Market Report: BT Boss Philip Jansen Buys £ 2 Million Shares

BT CEO Philip Jansen was desperate to convince shareholders that his confessed “stunning” investment in broadband would pay off.

Now he has bought more £ 2m worth of stock as he puts more skins into the game and strengthens his bets on the future of the company.

Since its acquisition in 2019, Janssen has invested more than £ 10m in his money on BT. He believes this could be a wise move if his spending leads to higher profits in the future.

Since its acquisition in 2019, BT boss Philip Jansen has invested more than £ 10m in his own money.

Friday’s purchase of 1.25 million shares for £ 1.63 was the day after the telecommunications giant announced a major new investment plan to “build like anger” behind the government’s post-pandemic tax deduction.

We aim to connect 25m homes to fiber broadband by 2025 – 5m more than previously planned.

Investors seem encouraged to show Jansen’s confidence as BT’s share price rose 2.8% (4.5p) to 166.2p.

Stock Watch-Diploma

The diploma of the lesser-known technology product supplier has risen after boasting “very strong first-half performance.”

The FTSE 250 company seals and controls specialty equipment and provides a variety of equipment and services to the healthcare sector.

In the six months to March, revenues were up 29% to £ 365.2m and profits were up 33% to £ 66.6m.

The company raised its full-year forecast, raising its share price by 7% (192p) to 2942p.

However, the company’s rise wasn’t enough to keep the FTSE 100 in the black, down 0.2% (10.76 points) to 7032.85.

The Stock Index has been lowered by airlines and hospitality companies that have had a disastrous day despite resuming for the first time since early January.

Concerns over the spread of the Indian version of Covid, along with a government proposal that the lifting of the blockade restrictions on June 21 could threaten the stock, fell.

British Airways owner IAG down 2.9% (5.72p) to 191.18p, Premier Inn parent company Whitbread down 3% (95p) to 3085p, and InterContinental Hotels down 1.8% (91p) It was 4886p.

The mid-cap FTSE 250 fell 0.6% (121.96 points) to 22214.14 points, restaurant group owner Wagamama fell 6.7% (8.6p) to 120p, and Trainline fell 5.4% (23.8p). did. Up to 416p, Upper Crust owner SSP Group fell 4.7% (15.2p) to 307.6p and Easyjet fell 2.8% (28.7p) to 985.8p.

A major pub group that was anxious to bring the Panther back indoors was also beaten.

Marston fell 4.1% (4.05p) to 95.95p, Fuller fell 5.3% (46p) to 830p, and Weatherspoons fell 3.3% (44p) to 1308p.

Economic concerns also pushed down real estate stocks. Vistry – formerly Bovis Homes – decreased by 0.7% (9p) at 1287p, Barratt Developments decreased by 1.3% (9.6p) at 759.2p, and Crest Nicholson decreased by 3.6% (15.4p) to 412.4p. It was.

Vistry’s decline states that average weekly sales were up 70% from last year and 21% at pre-pandemic levels, according to homebuilders.

But the company also warned that there are economic data from the sector showing signs of inflation creeping into the homebuilding market and making raw materials more expensive.

Elsewhere, the Hollywood Bowl announced its six-month results for the six months to March, saying it was “in a good position to recover to pre-pandemic performance.”

The numbers were pretty disastrous, as the 10-pin bowling company was closed for 75% of that time and was open for the rest of the time with restrictions.

Revenues fell from £ 69.2m in the previous year to just £ 12m and profits plummeted from £ 59.3m to £ 10.8m.

But that didn’t stop the company from agreeing on two sites, Birmingham and Hello.

The Hollywood Bowl reopened yesterday, but investors are still worried about future limits and stocks have fallen 4% (9.5p) to 227p.

Novacyt, one of last year’s stellar strains that surged after the development of the Covid test, said its product range was included in the NHS England framework for detecting “variant of concern.”

The stock closed at 430.2p, 6.2%, or 25.2p.

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Market Report: BT Boss Philip Jansen Buys £ 2 Million Shares

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