1. UK economy unexpectedly contracts for second month running
Production output declined by 0.6% in October, driven by “falls in manufacturing, and mining and quarrying output,” the ONS said, and after a 0.5% drop a month earlier.
2. Royal Mail fined £10.5mln for failing to hit delivery targets
According to Ofcom, Royal Mail delivered 74.7% of First Class mail and 92.7% of Second Class mail on time, falling short of the regulator’s annual benchmarks of 93% and 98.5%, respectively.
3. BT and Vodafone could benefit as Ofcom slashes fees by £40mln
Regulator Ofcom has proposed slashing fees it charges mobile network operators to the tune of £40 million.
4. Santander, Barclays cut as mortgage rates fall for another week
Average rates fell every day of the week consecutively, meaning mortgage costs had fallen for a third week in a row.
5. FTSE 100
Index gives up gains.