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Bt is up this mng but underperforming the large rebound in ftse today. So sounds like mkt hasn’t had any effect on chairman leaving

Although imho this is just the overpriced tech and us stocks that will get hit most as higher yields affect them much more, when they have been bought up on too much loose money , buying stuff not on fundamentals but chasing the tulip bubbles

Problem last few days for bt is long dated bonds rising, which makes it more expensive to borrow. However, br diversified well ie it’s pension deficit will improve on a steeper yield curve as annuities become cheaper.

https://www.google.co.uk/amp/s/amp.cnn.com/cnn/2021/02/25/investing/dow-stock-market-bonds-today/index.html

The major rotation out of tech to value occurring, but while tech being sold it’s causing volatility in mkts, but you can clearly see the real money buying starting in bt. This continues to trade much higher next few days I think you’ll start seeing acceleration in its northward move.

Futures pointing up again. See another few pence more rise at least tomorrow too. Us back too after their Presidents’ Day today.

If being a bit safer and getting a small hedge on, I like idea of being long bt now and short nasdaq100 in tiny, as only see the Nasdaq bubble bursting that may delay the bt rally

But tbh there’s so much money that’s been sitting safe in govt bonds and with no inflation that’s not a problem for them, but with oil and commodity prices climbing and a surge on services and goods as lockdown eases,will cause inflation down the road. The central banks have said they will not hike rates in short term and live with inflation, but over next couple years they will be forced to hike and hence the int rate curve is steepening which is good for bank stocks and you see why they rallying too at moment

And us mkt got to expensive compared to many cheap uk inflation defensive stocks

We are talking trillions of usd needing inflation homes, that is stuck in negative rate bonds

A wall of buyers from gilt mkt and govt bond mkt are desperate to buy inflation trade. Us is now too expensive and bt completely fits the bill for this overseas money to fit their needs.

So the higher price is based completely on this wall of money coming in

Well that’s the at least 4p rise today. Tbh still bog move higher to come imho in next few weeks, as the money comes in. See 150 in couple weeks

I think also a lot of overseas money has waited to see how brexit turns out, but with Wall Street at super turbo charged prices ie sandp on a forward Schiller P/E ratio trades at 33 whereas ftse uk is 13 to 14 ish and with rates super low you can understand pe being above historic avge of 18 ish but uk is getting super interesting and there is trillions out there just wanting yield and protection against inflation. Now the brexit clouds clearing and even on news today ports now running smoothly. Yes still issues to iron out, but they will. That money imho is imminent in firing the ftse in next couple weeks. I see bt rallying at least 4p on Monday, from the way mkts reacted Friday and into close in New York last night

Sry forgot to attach this article

https://www.google.co.uk/amp/s/www.telegraph.co.uk/investing/shares/british-stocks-set-rise-global-investors-flood-market/amp/

If I think rates move up when inflation comes there will be even more buying of value stocks and selling of high value growth tech.

Bt looking good for Monday as global investors are now starting to move money to uk as us is getting expensive.

Additionally with inflation on horizon this is good for bt itself together with the positive remark of its pension portfolio as long end bonds move higher and therefore liabilities come down (ie equiv cost of annuity that is linked to final salary pension schemes).

Uk domestic stocks cheapest since 1975 and by will be a major beneficiary as that money comes in. Futures for Monday already pointing decent up

https://www.bt.com/bt-plc/assets/documents/investors/financial-reporting-and-news/quarterly-results/2020-21/q3/q3-20-21-audio.mp3

I spent 2 hours listening to this webcast from last quarter results.

But gives you all information you need in management thinking and growth they going for when lockdown ended, as well as what they want from offcom for their £10bln investment, bad creditors that may come up as furlough ends (lot of which they hope is already provisioned)

But you can see listening to the podcast, their is lots of uncertainty and although sp is extremely cheap and I think we will be at £2 year end, I can see why sp. is holding back till uncertainty coming up is more known

Reducing nicely in results and lower end of free cash flow raised too, with 2021/2022 outlook positive. So set up nicely to return did I’d end payments starting at 7.7p next year

Today should be positive just on current price vs considering how bt has underperformed other European telecom stocks including Vodafone ie since start year has under performed by 10 per cent so results and positives comment in results on ofcom statement should cause some catch up.

But who knows in this mkt

BT Group Q3 Earnings: Adjusted Revenue: GBP5.48B (est GBP5.47B) Adj EBITDA: GBP1.88B (est GBP1.84B) EBITDA Outlook Range Remains At GBP7.3-7.5B No Change To FY20/21 Revenue, EBITDA Or CAPEX Guidance

https://www.bloomberg.com/news/articles/2021-02-02/bt-in-talks-to-use-oneweb-satellites-for-rural-internet-push?utm_content=business&utm_medium=social&utm_campaign=socialflow-organic&utm_source=twitter&cmpid=socialflow-twitter-business