City tunes in to strong gains at ITV.

(From Newsletter)

BROADCASTER ITV led the FTSE 100 Index to a positive close yesterday despite conflicting signals over the likely path of interest rates.

ITV shares were the biggest blue-chip riser, bouncing 6% after regulator Ofcom proposed cuts in the amount broadcasters pay for TV licences.

The Footsie ended the session 18.7 points higher at 5109.1, taking it back up towards levels not seen in three years.

Analysts said an Oabsolutely shockingO slump in retail sales revealed in a survey would shore up support at the Bank of England for an early cut in rates.

But the figures from the CBI left many in the City scratching their …