Shares in Carphone Warehouse are up 2% to 101.25p after a trading update that showed retail revenues rising 13% in the final three months of 2008.
Revenues at the TalkTalk broadband business fell 2% and the company warned it would be cutting costs over the coming year.
There is speculation that the group's co-founder David Ross is selling his shares to repay loans following today's trading update.
Ross quit as Carphone's deputy chairman last month after it emerged that he had used the shares - and those in three other companies - to guarantee personal loans.
Carphone chief executive Charles Dunstone – on a conference call with reporters including my colleague Richard Wray - said Ross had promised to inform the company before he sold any of shares and so far has not done that.
"Then again he might pick the phone up to us after this call but we have no knowledge of that at the moment," Dunstone said.
ITV, the UK's leading commercial broadcaster, has failed to benefit from an Office of Fair Trading recommendation that its controversial advertising sales regime should be relaxed or removed.
Analysts suggested the OFT's views on contracts rights renewal, which pegs advertising rates to programme ratings, had been anticipated and therefore already reflected in ITV's share price.
They also pointed to continuing worries about advertising trends, with some predicting a 20% fall this month.
ITV shares dropped almost 6% to 33.25p.
Meanwhile, the FTSE 100 sell-off seems to be over – having been more than 80 points down at one stage, the blue-chip index is now essentially flat on last night's close.
Barclays' sudden dip, which made it the FTSE 100's biggest percentage faller at around 9am, also seems to have been a red herring.
