STOCK WATCH

■ CAPITA surged to its highest level for more than a year after the outsourcer cheered the success of its years-long turnaround strategy.

It jumped 19.7pc, or 5.74p, to 34.86p as it slashed its debt by 45pc to £482m after selling a slew of businesses last year.

Capita, whose work includes collecting the BBC licence fee, made a profit of £74m for 2022, once all the divisions that have been sold were stripped out, from a loss of £123m a year earlier. Revenue rose 2.4pc to £2.8bn.