Good morning. Vittorio Colao, the urbane chief executive of the telecoms giant Vodafone, struck an upbeat tone this morning when he posted a better-than-expected first quarter trading update. Headline organic service revenue, the key metric for Vodafone’s City watchers, grew 2.2 per cent, ahead of forecasts for growth of 1.6 per cent. “We have made a good start to the year in Europe, where our commercial momentum remains robust,” Mr Colao said. “Although competition in India remains intense, service revenues stabilised compared with the prior quarter.” We will have a story later.

Source: The Times July 21, 2017 07:52 UTC