Royal Mail has hit its highest level since June after one of its competitors cut back its services.
The privatised postal service is up 16.6p or 3.4% to 495.5p, making it the biggest riser in a FTSE 100 which is struggling to hold onto its earlier gains (now up just 8 points).
The move comes as Whistl, formerly known at TNT, suspended its door to door letters service. Whistl had reportedly delivered one in four letters in the Liverpool and Manchester area, but is cutting back after its private equity backer LDC pulled out of funding to help expand the business.
