shares rose as the U.K.-based mobile-phone operator lifted its guidance for fiscal 2020 adjusted earnings to imply 2% to 3% organic growth. Its first-half organic adjusted Ebitda rose 1.4% on 0.3% growth in service revenue, helped by gains in South Africa, Spain and Italy.
On a conference call, Vodafone management defended the pricing of a wholesale deal it struck with Liberty Global’s Virgin Media last week, saying it was line with other deals.
Vodafone provided the largest upward lift to the FTSE 100
tumbled 5.8%. The discount retailer experienced a worse than expected 2.8% decline in adjusted pretax profit as the company reported “continued disappointing financial performance in Germany” and slowing same-store sales growth at its U.K. stores.