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Pin to quick picksVodafone Share News (VOD)

Share Price Information for Vodafone (VOD)

London Stock Exchange
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Share Price: 70.00
Bid: 68.50
Ask: 71.00
Change: 0.00 (0.00%)
Spread: 2.50 (3.65%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 70.00
VOD Live PriceLast checked at -

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Sector movers: Fixed-line telecoms fall as broker downgrades hit BT, Talktalk

Fri, 24th Oct 2014 14:07

Fixed-line telecom stocks were the worst performers in London on Friday as broker downgrades weighed on heavyweight constituents BT Group and Talktalk.BT, by far the largest stock in the sector with a market capitalisation of nearly £31bn, was 2.4% lower at 367.6p in afternoon trade after Morgan Stanley cut its rating on the stock from 'equal weight' to 'underweight'.The US bank cited increased competition in the broadband market, a higher pension deficit and a potential sharp increase in costs to secure Premier League rights for its sports channel.Morgan Stanley predicted that BT "could bid aggressively" to get its hands on the content and could spend £1bn per annum for the 2017/2018 football season, compared with current costs of just £246m. If this happens, free cash flow forecasts would have to be downgraded."Of course, BT could charge more for BT Sport and target new customer wins, but there are clearly greater risks to the BT equity story, as it faces the transition to pay-TV," the bank said.Meanwhile, Talktalk's stock was 1.5% weaker at 287p after Nomura lowered its recommendation from 'buy' to 'neutral'.The broker said it has been "increasingly concerned that TalkTalk would not be able to maintain the earnings momentum required to justify its valuation premium".Talktalk had risen strongly over recent sessions on the back of market chatter suggesting that blue-chip mobile network giant Vodafone could be working on bid worth 450p a share for the firm.Others in the fixed-line telecoms sector such as Alternative Networks, KCOM and Daisy Group were also registering losses on Friday.In contrast, the mobile telecoms category was at the top of the risers list after decent gains from Vodafone.Top performing sectors so far todayMobile Telecommunications 4,516.57 +1.84%Electronic & Electrical Equipment 3,455.91 +1.35%Real Estate Investment & Services 2,525.62 +0.34%Pharmaceuticals & Biotechnology 12,311.75 +0.16%Insurance (non-life) 1,855.09 +0.07%Bottom performing sectors so far todayFixed Line Telecommunications 4,211.74 -2.21%Industrial Metals & Mining 1,357.38 -2.10%Media 5,959.92 -1.12%Mining 15,256.59 -1.05%Personal Goods 22,719.02 -1.04%
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