BT Share News (BT.A)

Following a temporary foray into positive territory, UK stocks were firmly lower by Wednesday lunchtime as supermarket giant Tesco erased earlier gains after reporting an eye-watering £6.4bn annual loss.London's FTSE 100 was down 0.66% at 7,016.59 by midday, pulling back quickly after a brief stint in the green pushed it to a high of 7,092.34 early on, as Tesco and a number of financial stocks extended losses. The Footsie's intraday record peak of 7,119.35 was set last week."Whilst there has been mercifully few new reports surrounding the Greek situation, with Tesco dominating the morning's discussion, this doesn't meant the issue is any better, leaving a bitter backdrop to the Eurozone's more quiet moments, said analyst Connor Campbell from Spreadex.Things were also quiet in terms of economic data, with the minutes of the Bank of England meeting the only notable release of the morning. Details of the April meeting showed that policymakers were once again unanimous in keeping rates unchanged.However, sterling rose 0.6% against the dollar to $1.5013 after the minutes showed that the Monetary Policy Committee "has become slightly less concerned by the downside risks to the inflation outlook", according to Capital Economics. Nevertheless, the research firm said a rate hike still looks unlikely this year.Tesco and financials provide a dragTesco jumped initially after its results, though optimism quickly faded as the market began to digest the grocer's worst annual loss in its 97-year history, with the stock down 2% by midday. Chief executive Dave Lewis said that the market was "still challenging" though the supermarket did see like-for-like sales trends improving in the fourth quarter.Stocks in the financial sector were also weighing on market, including Hargreaves Lansdown which was down 4.4% after being downgraded to 'hold' by Jefferies. Schroders, Prudential, Aviva, Legal & General, Lloyds and HSBC also weakened.Meanwhile, Credit Suisse lowered its target price on Standard Chartered from 880p to 850p and kept an 'underperform' rating, saying the company is "prioritising building capital by holding back growth, but we think that gives up future earnings". The bank was trading 2.3% lower.In contrast, BT Group was dialling the right numbers with investors after Nomura lifted its target price on the stock from 520p to 550p and kept a 'buy' rating, applauding its recent purchase of mobile network EE.Engine maker Rolls-Royce rose 3% after chief executive John Rishton announced plans to retire this summer. He will be succeeded by former ARM Holdings boss Warren East.UK timber and builders merchant Travis Perkins also gained after saying group sales were up 7.2% in the first quarter despite strong comparators with last year.BHP Billiton gained after revealing record levels of iron ore and coal production for the nine months of its financial year. The miner however also announced it would postpone some plans to increase an iron ore project.Shares in sugar, sweetener and food ingredients group Tate & Lyle were losing their flavour after analysts at Credit Suisse lowered their rating on the stock from 'neutral' to 'underperform'.Market MoverstechMARK 3,226.81 -0.29%FTSE 100 7,016.59 -0.66%FTSE 250 17,630.12 -0.47%FTSE 100 - RisersRolls-Royce Holdings (RR.) 1,037.00p +2.98%Travis Perkins (TPK) 2,051.00p +1.58%Fresnillo (FRES) 716.00p +0.99%BT Group (BT.A) 461.00p +0.91%Aggreko (AGK) 1,674.00p +0.84%BHP Billiton (BLT) 1,474.50p +0.79%Rio Tinto (RIO) 2,834.00p +0.78%G4S (GFS) 303.20p +0.66%Hikma Pharmaceuticals (HIK) 2,109.00p +0.57%BP (BP.) 482.25p +0.47%FTSE 100 - FallersHargreaves Lansdown (HL.) 1,180.00p -4.38%Ashtead Group (AHT) 1,134.00p -2.49%Mondi (MNDI) 1,340.00p -2.47%Standard Chartered (STAN) 1,040.50p -2.30%Babcock International Group (BAB) 1,018.00p -2.12%GlaxoSmithKline (GSK) 1,543.00p -2.03%Tesco (TSCO) 230.15p -1.96%Reed Elsevier (REL) 1,116.00p -1.93%Sports Direct International (SPD) 640.50p -1.91%Schroders (SDR) 3,267.00p -1.86%FTSE 250 - RisersPlaytech (PTEC) 836.00p +2.83%Lonmin (LMI) 138.40p +2.82%Croda International (CRDA) 2,969.00p +2.17%Infinis Energy (INFI) 187.80p +2.07%UDG Healthcare Public Limited Company (UDG) 521.00p +2.06%Inmarsat (ISAT) 996.50p +1.63%Fisher (James) & Sons (FSJ) 1,324.00p +1.61%Telecom Plus (TEP) 817.50p +1.43%Fidelity China Special Situations (FCSS) 169.80p +1.37%Daejan Holdings (DJAN) 5,800.00p +1.22%FTSE 250 - FallersTate & Lyle (TATE) 621.00p -3.35%Ladbrokes (LAD) 102.70p -3.20%Serco Group (SRP) 134.20p -3.10%Britvic (BVIC) 730.00p -2.67%Ashmore Group (ASHM) 303.30p -2.63%Balfour Beatty (BBY) 238.10p -2.58%Cairn Energy (CNE) 173.70p -2.53%Premier Oil (PMO) 162.10p -2.41%Aveva Group (AVV) 1,646.00p -2.37%Rotork (ROR) 2,476.00p -2.29%