FTSE Fells on Hawkish FOMC

With markets heading lower after the US Federal Reserve was deemed to be more hawkish than expected, along with worries about the European banking stress tests, the biggest faller has come as a slight surprise.

BT is down 10.8p or nearly 3% at 364.7p depite the telecoms group reporting second quarter earnings which were slightly better than City expectations. It benefited from superfast broadband and its move into sport, in particular Premier League football, with audiences up around 45% on average. So pretax profit rose 13% on a 2% fall in revenues.

But there were signs of increased competition in broadband from the likes of BSkyB and other operators, with BT taking 48% of net new customers in the UK, down from previous levels. According to figures from Oriel, this compares to 64%, 79%, 60% and 93% in the first quarter 2014/15 back to the second quarter of 2013/14.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza