News Corp shares jump 5% after MP hearing

News Corp's shares jumped 5.5% following yesterday's parliamentary hearing with the group's chiefs Rupert and James Murdoch.

Recovering ground lost in previous weeks due to the phone-hacking scandal, shares closed up 5.5% in New York and 5% in Sydney yesterday, according to the BBC. The hearing saw Rupert Murdoch apologise for the actions of some of his employees who he said must be held accountable under the law. New York shares closed at $16.25 each, near to their 12-month high of $16.49. Markets as a whole also posted gains as moves were made by Congress to agree a deal on raising the US debt ceiling. The FTSE 100 was up 0.44% this morning to 5815.6 while the Dow Jones was up 1.63% to 12587.42. ...