BT Group (BT.A)

Sector:

Telecom Operators

Index:

FTSE 100

138.25p
   
  • Change Today:
    -1.50p
  • 52 Week High: 150.55p
  • 52 Week Low: 102.30p
  • Currency: UK Pounds
  • Shares Issued: 9,955m
  • Volume: 15,790,408
  • Market Cap: £13,763m
  • RiskGrade: 170

Thursday preview: BoE, ECB and BT Group in focus

By Alexander Bueso

Date: Wednesday 02 Feb 2022

LONDON (ShareCast) - (Sharecast News) - All eyes on Thursday will be on central bank policy decisions in the UK and euro area.






The Monetary Policy Committee is expected to vote again in favour of a hike in Bank Rate, but of 25 basis points this time around, while keeping its stock of asset purchases unchanged.

As recently as 28 January, economists at Barclays Research were anticipating that the Monetary Policy Committee would push back on expectations for policy tightening.

Nevertheless, they would leave the door open to back-to-back rate hikes at their March and May meetings, Barclays said in a research note sent to clients.

The European Central Bank's governing council was also expected to stand pat on policy.

But here too there were clear risks after the annual rate of euro area CPI came in at a surprisingly strong and record 5.1% for January.

That print meant that at some point in 2022 higher medium-term inflation forecasts could "open the door for a more rapid removal of stimulus than currently pencilled-in, not to mention outright tightening", said Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics.

Key purchasing managers survey results for services sector activity in the UK, US and euro area are also due out, with markets likely keen to survey the damage to levels of activity from Omicron.

On the company front, consensus is for BT Group to post a 1.6% decline in third quarter sales to £5.39bn, following drops of 3.4% and 2.2%, respectively over the previous two quarters.

Earnings before interest, taxes, depreciation and amortisation meanwhile are seen up by 1.5% to £1.91bn.

For UBS analyst Polo Tang, investors will focus on fiscal year 2022 guidance, the potential impact of a delayed recovery in Enterprise/GS due to the uncertainty around the pandemic, updates on a potential sales of BT Sport and any commentary around FY 2023 guidance for EBITDA of £7.9bn.

Tang points out how the recent 9.3% hike in consumer prices might add "upside", but cautions that wage inflation could offset and that 2023 guidance is more likely to be provided alongside the company's fourth quarter numbers.

But in any case, the main debate for investors are the longer-term prospects for its Openreach unit, given rising infrastructure competition and cost inflation, he added.

On the flip-side, recent above-inflation price rises and stake building by Altice should be supportive of the share price.

"We remain cautious on sector fundamentals that could constrain relative earnings momentum in the near-term, but M&A and the benefit of the EU Recovery Fund could make investors more constructive on the sector."

Thursday 3 February

FINALS

Banco Bilbao Vizcaya Argentaria SA, Shell 'B', Shell 'A'

INTERIMS

Renishaw

Q3

BT Group

Q4

Banco Bilbao Vizcaya Argentaria SA, Shell 'B', Shell, Shell 'A'

TRADING ANNOUNCEMENTS

Cranswick, Seen, Virgin Wines UK

AGMS

Agronomics Limited, Baillie Gifford European Growth Trust, Future, Hargreave Hale AIM VCT, Sage Group, Hyve Group, JPMorgan Indian Investment Trust, Unicorn AIM VCT, Ten Lifestyle Group, Compass Group

FINAL EX-DIVIDEND DATE

Blackrock Income And Growth Investment Trust, JPMorgan Russian Securities, Baronsmead Venture Trust, Ramsdens Holdings, Treatt, Baronsmead Second Venture Trust

INTERIM EX-DIVIDEND DATE

RBG Holdings, Edinburgh Inv Trust, Albion Enterprise VCT, M & G Credit Income Investment Trust, North American Income Trust (The)

Downing One VCT, Polar Capital Global Healthcare Trust, GCP Asset Backed Income Fund Limited, DWF Group, GCP Infrastructure Investments Ltd, Axiom European Financial Debt Fund Limited, JPMorgan Global Core Real Assets Limited, JPMorgan Russian Securities, Henderson International Income Trust, Ecofin Global Utilities and Infrastructure Trust, Home Reit, PayPoint, Starwood European Real Estate Finance Ltd, Taylor Maritime Investments Limited NPV, IG Group Holdings, CVC Credit Partners European Opportunities Ltd GBP, EJF Investments Ltd NPV, Totally, CVC Credit Partners European Opportunities Ltd EURO, Residential Secure Income, Dunedin Income Growth Inv Trust, Marwyn Value Investors Limited, Blackstone Loan Financing Limited (EUR)

INTERIM DIVIDEND PAYMENT DATE

XPS Pensions Group, Gabelli Merger Plus+ Trust

QUARTERLY EX-DIVIDEND PAYMENT DATE

Chenavari Toro Income Fund Limited NPV, Merchants Trust, JPMorgan Claverhouse Inv Trust, Picton Property Income Ltd, Greencoat Renewables (CDI)

UK ECONOMIC ANNOUNCEMENTS

PMI Services (09:30)

BoE Interest Rate Decision (12:00)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

PMI Composite (GER) (08:55)

PMI Services (GER) (08:55)

PMI Composite (EU) (09:00)

PMI Services (EU) (09:00)

Producer Price Index (EU) (10:00)

ECB Interest Rate (EU) (12:45)

Continuing Claims (US) (13:30)

Initial Jobless Claims (US) (13:30)

PMI Services (US) (14:45)

PMI Composite (US) (14:45)

Factory Orders (US) (15:00)

ISM Prices Paid (US) (15:00)

ISM Services (US) (15:00)

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BT Market Data

Currency UK Pounds
Share Price 138.25p
Change Today -1.50p
% Change -1.07 %
52 Week High 150.55p
52 Week Low 102.30p
Volume 15,790,408
Shares Issued 9,955m
Market Cap £13,763m
RiskGrade 170

BT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.63% above the market average76.63% above the market average76.63% above the market average76.63% above the market average76.63% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
68.96% above the market average68.96% above the market average68.96% above the market average68.96% above the market average68.96% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
74.03% above the market average74.03% above the market average74.03% above the market average74.03% above the market average74.03% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
81.54% below the market average81.54% below the market average81.54% below the market average81.54% below the market average81.54% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average

What The Brokers Say

Strong Buy 6
Buy 7
Neutral 3
Sell 1
Strong Sell 1
Total 18
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BT Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Aug-24 28-Dec-23
Paid 11-Sep-24 02-Feb-24
Amount 5.69p 2.31p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 6,624 @ 138.25p
16:35 29,411 @ 138.25p
16:35 8,113 @ 138.25p
16:35 45,829 @ 138.25p
16:35 73,489 @ 138.25p

BT Key Personnel

CFO Simon Lowth
CEO Allison Kirkby
Chair Adam Crozier

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