The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBT Share News (BT.A)

Share Price Information for BT (BT.A)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 112.20
Bid: 112.10
Ask: 112.20
Change: 3.25 (2.98%)
Spread: 0.10 (0.089%)
Open: 109.35
High: 112.25
Low: 109.35
Prev. Close: 108.95
BT.A Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: European equities up on hopes of US debt deal

Fri, 19th May 2023 12:14

(Alliance News) - Stock prices in London were higher at midday on Friday, with markets upbeat following a positive consumer confidence reading in the UK and amid growing hopes of a debt ceiling deal in the US.

The FTSE 100 index was up 29.11 points, or 0.4%, at 7,771.41. The FTSE 250 was up 26.48 points, or 0.1%, at 19,324.73, and the AIM All-Share was up 1.27 points, or 0.2%, at 811.21.

The Cboe UK 100 was up 0.3% at 776.60, the Cboe UK 250 was up 0.1% at 16,862.20, and the Cboe Small Companies was up 0.3% at 13,585.99.

A survey showed that UK consumer confidence in the year ahead is continuing to recover, despite record levels of inflation weighing down on the country's households.

GfK's consumer confidence index rose by three points in May to minus 27, the fourth monthly increase in a row from January's minus 45.

Russ Mould, investment director at AJ Bell, said the print was "impressively resilient" and may become more "material" if inflation in the UK starts to retreat from double-digit highs.

UK annual consumer price inflation was 10.1% in March, above the 9.7% the Bank of England's forecast for the first-quarter average and well above its overall target of 2%.

Investors are increasingly optimistic that the US may avert a looming debt default after US Republican Kevin McCarthy said on Thursday he saw "the path" to a breakthrough in debt ceiling talks, suggesting a vote would be possible as early as next week.

"We're not there – we haven't agreed to anything yet – but I see the path that we could come to an agreement," the House speaker said in his most upbeat assessment yet of the stand-off between Republicans in Congress and Democratic President Joe Biden.

The dollar softened slightly at midday on Friday, but remained heightened overall, drawing strength from the stabilisation of US debt talks and the repricing of US Federal Reserve rate expectations.

"A US debt ceiling deal is inching closer, and while the rebound in equities has been somewhat contained, pressure on bonds remains substantial. Contributing to that were hawkish comments by Fed's Logan and lower-than-expected jobless claims, which translated into another round of Fed hawkish repricing. It's an ideal mix for the dollar – for now," said Francesco Pesole at ING.

The pound was quoted at USD1.2433 at midday on Friday in London, higher compared to USD1.2399 at the close on Thursday.

The euro stood at USD1.0794, higher against USD1.0764. Against the yen, the dollar was trading at JPY138.24, lower compared to JPY138.64.

A week ago, however, the pound was above USD1.25 and the euro above USD1.09. The dollar was below JPY135.

Dallas Fed President Lorie Logan told a banking conference in Texas on Thursday that the US Federal Reserve hasn't yet made the progress it needs to make and remains "a long way" from its 2% inflation target.

Logan joined three other members of the Federal Open Market Committee – which currently has just 11 voting members – in indicating that the Fed may need to raise rates again on June 13-14.

As a result, odds of a rate hold next month have fallen, according to the CME FedWatch Tool. There is now a 59% likelihood the Federal Open Market Committee leaves the federal funds rate range at 5.00% to 5.25%. The probability of this stood at 85% a week ago.

Still to come on Friday, Fed Chair Jerome Powell will talk at the 'Perspectives on Monetary Policy' panel at 1500 BST.

ING's Pesole said Powell will "probably have some interest in keeping the hawkish rhetoric alive" which, he added, should provide support to the dollar.

Stocks in New York were called to open higher, with the Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite all seen up 0.1%.

In London, Flutter Entertainment, Anglo American and Scottish Mortgage Investment Trust were among the top blue-chip performers at midday. The stocks were 1.8%, 1.7% and 2.2% higher, respectively.

BT added 2.1% after finishing 5.1% lower on Thursday, as it posted a profit decline and announced it will slash its workforce by as much as 55,000 staff by 2030.

Burberry lost 2.9%, extending its losses after finishing 6.4% lower on Thursday. The luxury retailer had reported positive annual results but disappointed by not lifting guidance for the new year.

In the FTSE 250, drinks maker C&C plunged 15% as it announced on Friday a leadership shake-up and said it encountered "significant challenges" in implementing a complex enterprise resource planning system upgrade for the Matthew Clark and Bibendum, or MCB, businesses in Great Britain.

Referring to its drinks wholesaler Matthew Clark and its wine seller Bibendum, C&C said: "The implementation process has taken longer and been significantly more challenging and disruptive than originally envisaged, with a consequent material impact on service and profitability within MCB."

C&C expects a one-off hit of EUR25 million from the ERP disruption in financial 2024.

Elsewhere in London, Unbound plummeted 32% after it announce it is launching a strategic review that could result in the sale of the company.

The company warned that any underperformance against its trading expectations could worsen its cash position, and that a temporary working capital shortfall could arise in September and October this year. It added that it continues to work with its advisers and banking partners to raise additional funds or refinance its current facilities.

Unbound also outlined various operational changes, including a temporary halt to its loss-making direct-to-consumer sales in the US and the EU

In European equities on Friday, the CAC 40 in Paris and DAX 40 in Frankfurt both were up 0.6%.

Brent oil was quoted at USD76.71 a barrel at midday in London on Friday, up from USD76.23 late Thursday. Gold was quoted at USD1,965.62 an ounce, higher against USD1,953.31.

By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
2 Feb 2024 16:59

London close: Stocks mixed as US payrolls come in red-hot

(Sharecast News) - London's stock markets closed with mixed results on Friday, as investors were confronted by an unexpectedly strong US labour market as revealed in the latest US non-farm payrolls report.

Read more
2 Feb 2024 12:27

Citi trims estimates on BT, reiterates 'buy' rating

(Sharecast News) - Citi has trimmed its fourth-quarter estimates for BT Group while reiterating its 'buy' rating.

Read more
1 Feb 2024 16:48

London close: Stocks turn lower as BoE keeps rates on hold

(Sharecast News) - London's financial markets finished in the red on Thursday, reversing earlier gains after the Bank of England maintained interest rates at current levels.

Read more
1 Feb 2024 08:50

LONDON MARKET OPEN: Shells begins USD3.5 billion buyback; eyes on BoE

(Alliance News) - Stock prices in London opened mixed, ahead of the Bank of England's first interest rate decision of the year.

Read more
1 Feb 2024 08:46

TOP NEWS: BT says on track for full year after third-quarter rise

(Alliance News) - BT Group PLC on Thursday said it is on track to meet its guidance for its current financial year, after slight growth in revenue and earnings in the third quarter that was partly thanks to price hikes.

Read more
1 Feb 2024 07:42

LONDON BRIEFING: Shell profit falls; announces USD3.5 billion buyback

(Alliance News) - Stocks in London are set to follow New York into the red, after the US Federal Reserve quashed hopes of a March cut to interest rates and ahead of the Bank of England interest rate decision.

Read more
1 Feb 2024 07:01

BT Group sees FY in line despite flat Q3 earnings

(Sharecast News) - BT Group reiterated annual guidance as it reported flat adjusted earnings for the third quarter and a rise in revenues driven by higher prices.

Read more
29 Jan 2024 11:10

BT adds Deutsche Telekom COO Raphael Kubler to board as representative

(Alliance News) - BT Group PLC on Monday said it appointed Raphael Kubler, chief operating officer of Deutsche Telekom AG, to its board as non-executive director, starting on Tuesday.

Read more
29 Jan 2024 07:43

LONDON BRIEFING: Superdry looks at saving costs; Ferrexpo loses case

(Alliance News) - Stocks in London are expected to start the week on a cautious note, as investors nervously look ahead to two key interest rate decisions.

Read more
29 Jan 2024 06:33

Tribunal to begin hearing GBP1.3 billion BT compensation case

(Alliance News) - A class action trial seeking GBP1.3 billion in compensation from BT Group PLC for more than three million customers is due to begin.

Read more
26 Jan 2024 13:29

UK dividends calendar - next 7 days

Monday 29 January 
J Smart & Co (Contractors) PLCdividend payment date
Mondi PLCex-dividend payment date
Tuesday 30 January 
no events scheduled 
Wednesday 31 January 
Albion Venture Capital Trust PLCdividend payment date
Amedeo Air Four Plus Ltddividend payment date
Artemis Alpha Trust PLCdividend payment date
Balanced Commercial Property Trust Ltddividend payment date
CT Private Equity Trust PLCdividend payment date
Doric Nimrod Air Three Ltddividend payment date
Doric Nimrod Air Two Ltddividend payment date
dotDigital Group PLCdividend payment date
DS Smith PLCdividend payment date
European Assets Trust PLCdividend payment date
Focusrite PLCdividend payment date
Lowland Investment Co PLCdividend payment date
Middlefield Canadian Income PCCdividend payment date
Mitie Group PLCdividend payment date
Shires Income PLCdividend payment date
Triad Group PLCdividend payment date
Thursday 1 February 
AEW UK REIT PLCex-dividend payment date
Albion Enterprise VCT PLCex-dividend payment date
Blackstone Loan Financing Ltdex-dividend payment date
British American Tobacco PLCdividend payment date
Capital Gearing Trust PLCex-dividend payment date
CC Japan Income & Growth Trust PLCex-dividend payment date
Coral Products PLCex-dividend payment date
Dunedin Income Growth Investment Trust PLCex-dividend payment date
Ecofin Global Utilities & Infrastructure Trust PLCex-dividend payment date
Edinburgh Investment Trust PLCex-dividend payment date
F&C Investment Trust PLCdividend payment date
Henderson International Income Trust PLCex-dividend payment date
Hollywood Bowl Group PLCex-dividend payment date
IG Group Holdings PLCex-dividend payment date
Impellam Group PLCex-dividend payment date
JPMorgan Emerging Europe Middle East & Africa Securities PLCex-dividend payment date
JPMorgan Global Core Real Assets Ltdex-dividend payment date
JPMorgan Mid Capital Investment Trust PLCex-dividend payment date
JPMorgan UK Smaller Cos Investment Trust PLCex-dividend payment date
M&G Credit Income Investment Trust PLCex-dividend payment date
Marwyn Value Investors PLCex-dividend payment date
Mercantile Investment Trust PLCdividend payment date
Merchants Trust PLCex-dividend payment date
Paragon Banking Group PLCex-dividend payment date
PayPoint PLCex-dividend payment date
Polar Capital Global Financials Trust PLCex-dividend payment date
Polar Capital Global Healthcare Trust PLCex-dividend payment date
Schroder Oriental Income Fund Ltdex-dividend payment date
SSP Group PLCex-dividend payment date
Starwood European Real Estate Finance Ltdex-dividend payment date
Treatt PLCex-dividend payment date
United Utilities Group PLCdividend payment date
WH Smith PLCdividend payment date
Friday 2 February 
Baillie Gifford European Growth Trust PLCdividend payment date
Bisichi PLCdividend payment date
BT Group PLCdividend payment date
Cardiff Property PLCdividend payment date
CT UK High Income Trust PLCdividend payment date
CT UK High Income Trust PLC - Class B dividend payment date
Diploma PLCdividend payment date
Dr Martens PLCdividend payment date
Experian PLCdividend payment date
Halma PLCdividend payment date
Jet2 PLCdividend payment date
Property Franchise Group PLCspecial dividend payment date
Qinetiq Group PLCdividend payment date
Severfield PLCdividend payment date
Thames Ventures VCT 1 PLCdividend payment date
Topps Tiles PLCdividend payment date
TwentyFour Income Fund Ltddividend payment date
TwentyFour Select Monthly Income Fund Ltddividend payment date
Vodafone Group PLCdividend payment date
Workspace Group PLCdividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
25 Jan 2024 15:06

UK earnings, trading statements calendar - next 7 days

Friday 26 January 
Paragon Banking Group PLCTrading Statement
Record PLCTrading Statement
Superdry PLCHalf Year Results
Taylor Maritime Investments LtdTrading Statement
WH Smith PLCTrading Statement
YouGov PLCTrading Statement
Monday 29 January 
Team Internet Group PLCTrading Statement
Tuesday 30 January 
Diaceutics PLCTrading Statement
Diageo PLCHalf Year Results
Kromek Group PLCHalf Year Results
Luceco PLCTrading Statement
Oxford Cannabinoid Technologies Holdings PLCHalf Year Results
Pets at Home Group PLCTrading Statement
Renewi PLCTrading Statement
Saga PLCTrading Statement
SSP Group PLCTrading Statement
SThree PLCFull Year Results
Synthomer PLCTrading Statement
Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
25 Jan 2024 13:00

Eight convicted in Italy over false accounting at BT subsidiary

MILAN, Jan 25 (Reuters) - An Italian court on Thursday convicted eight people after a lengthy trial into alleged false accounting at the Italian unit of British telecoms group BT in 2015 and 2016.

Read more
16 Jan 2024 06:06

BT's Plusnet hit by mass outage, broadband provider says

(Alliance News) - BT Group PLC subsidiary Plusnet has been hit by a "mass outage", the broadband provider has said.

Read more
15 Jan 2024 08:35

BT in talks with Musk's Starlink over rural broadband offering

(Sharecast News) - Telecommunications giant BT was said to be in discussions with Elon Musk's Starlink regarding a satellite phone and broadband offering aimed at servicing rural dead spots.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.