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Share Price Information for BT (BT.A)

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Share Price: 139.55
Bid: 139.00
Ask: 139.10
Change: 4.55 (3.37%)
Spread: 0.10 (0.072%)
Open: 135.55
High: 139.60
Low: 134.95
Prev. Close: 135.00
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UPDATE 3-European stocks slip from recent highs, telecom deals in focus

Tue, 07th Sep 2021 09:45

* KPN leads gains after Deutsche Telekom unit sale

* Meggitt tumbles as TransDigm drops bid

* Traders await ECB meeting on Thursday
(Updates to market close)

By Sruthi Shankar and Ambar Warrick

Sept 7 (Reuters) - European stocks ended lower on Tuesday as
caution kicked in ahead of a European Central Bank meeting later
this week, while focus turned to a flurry of telecom deals led
by Deutsche Telekom.

The pan-European STOXX 600 index slipped 0.5% after
coming close to a record high in the previous session. Utilities
, healthcare and chemical stocks were
among the top decliners.

Spurring moves in telecoms, Deutsche Telekom
struck a share-swap deal with SoftBank Group to
increase its stake in U.S. unit T-Mobile. The stock
fell slightly.

The company and Swedish telecoms operator Tele2
also agreed to sell their Dutch unit to private equity groups
for an enterprise value of 5.1 billion euros ($6.05 billion).

Dutch peer KPN rose 4.1%, leading gains on the
STOXX 600, while UK's BT fell 0.1% on news Deutsche
Telekom is weighing options for its 12% stake in BT.

The wider telecoms index rose 0.1%.

Caution prevailed ahead of the ECB meeting on Thursday, with
a recent surge in euro zone inflation and improving economic
data driving bets of tighter monetary policy.

"It's believed that the ECB is discussing tapering their
PEPP purchases. If it is, then investors will look for signs
that they are going to compensate by making purchases through
other schemes," said Andrea Cicione, head of strategy at TS
Lombard.

"The reason they wouldn't want to get ahead of the Fed is
because any hawkish remark by Lagarde or the ECB would cause
even more strength in the euro, which would be negative for
European growth."

The benchmark STOXX 600 has gained almost 19% so far this
year, slightly lagging New York's S&P 500, as relatively high
rates of vaccination brightened the recovery outlook, with many
people returning to offices following sweeping restrictions last
year.

Hopes of more economic stimulus for China and Japan, as well
as growing views the U.S. Federal Reserve is likely to delay the
start of tapering its asset purchases pushed world stocks to
record highs earlier.

British engineering firm Meggitt fell 12.1%, and
was the worst performer on the STOXX 600 after aerospace parts
maker TransDigm bowed out of a $8.7 billion takeover
battle for the firm.

The world's largest inter-dealer broker TP ICAP Group
slumped 10.7% after reporting a lower half-year
profit.

Upmarket fashion retailer Ted Baker climbed 0.2% as
sales surged during the second quarter as customers returned to
shops after months of coronavirus restrictions.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak
Dasgupta, Louise Heavens and Richard Chang)

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9 Jul 2023 22:41

Sunday newspaper round-up: BT Group, Aston Martin, MPs

(Sharecast News) - BT has intensified its preparations to see off a possible takeover bid by its major shareholder Deutsche Telekom. For months now, the telecoms services provider had been working with Robey Warshaw and Goldman Sachs to prepare against such a scenario. Speculation in that regard was reaching a crescendo both in the City and within the sector, due to BT's need to invest £15bn in its new fibre-optic broadband network and multiple potentially destabilising factors. - The Sunday Telegraph

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6 Jul 2023 15:46

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
28 Jun 2023 11:57

LONDON MARKET MIDDAY: Stocks upbeat ahead of central banking panel

(Alliance News) - Stock prices in London were higher at midday on Wednesday, as investors eagerly awaited a panel featuring the chiefs of the four largest central banks, hoping for hints on the future direction of monetary policy.

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28 Jun 2023 11:08

TOP NEWS: Ofcom investigates BT after UK emergency call disruption

(Alliance News) - Ofcom on Wednesday said it has launched an investigation into BT Group PLC after a disruption to UK emergency call services.

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27 Jun 2023 16:58

LONDON MARKET CLOSE: FTSE 100 edges up after strong start in New York

(Alliance News) - Blue-chip equities in Europe ended higher on Tuesday, though the FTSE 100 underperformed and ended with only a minor gain, as initial bullish trade following optimism out of China gave way to caution as the day wore on.

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27 Jun 2023 16:55

London stocks rise on China recovery hopes; energy shares fall

China's Premier Li says will take steps to boost demand

*

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27 Jun 2023 09:43

UBS downgrades BT Group to 'sell', shares slide

(Sharecast News) - BT Group tumbled on Tuesday after UBS downgraded the shares to 'sell' from 'neutral' and cut the price target to 120p from 146p, as it assumed a halving of the dividend amid free cash flow pressures.

Read more
27 Jun 2023 08:57

LONDON BROKER RATINGS: UBS cuts BT'; HSBC starts Smiths with 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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27 Jun 2023 07:56

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(Alliance News) - Stock prices in London were set to open higher on Tuesday, following a positive session for equities in Hong Kong and Shanghai.

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26 Jun 2023 17:11

HSBC says to shift global headquarters to London finance district

(Alliance News) - Banking firm HSBC Holdings PLC will switch global headquarters to London's traditional City finance district, from its current Canary Wharf base in the east of the capital, it said Monday.

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26 Jun 2023 06:01

BT apologises for faults that hampered UK's 999 emergency call service

(Alliance News) - BT Group PLC has apologised "sincerely" for technical faults as the primary 999 emergency call service was restored.

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Sunday newspaper round-up: Drinkflation, Bank of England, BT Group

(Sharecast News) - Brewers have cut the levels of alcohol in many beers and lagers, saving millions of pounds in tax in the process. But they haven't cut prices for consumers. Food giants and grocers have done the same through stealthy reductions in package sizes and portions. Critics however hold that so-called drinkflation is the more insidious of the two, as bottle and cans stay the same size and hold the same amount of liquid. In the case of Foster's, which is sold by Heineken in the UK, alcohol by volume has been reduced from 4.0% earlier in 2023 to only 3.7%. - Financial Mail on Sunday

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14 Jun 2023 17:05

Vodafone, Hutchison strike $19 bln deal to create UK mobile leader

Deal would create UK's biggest mobile operator

*

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