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BT schmooze provides short-term relief

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BT chiefs had a cosy dinner with a select group of City fund managers and - who'd have guessed it - the next day shares in the lumbering, monster telco perk up.

According to today's Mail, BT claims it was a private meeting and nothing was discussed that would have affected the share price. After all, that really wouldn't be cricket, would it?

Then again, what with all the match-fixing allegations flying around the game at the moment maybe that's not quite the right analogy to make.

No matter. If BT says nothing went on, then nothing went on. We believe them Honest, we do. Shares may have leapt 34p yesterday inflating BT's hares price to 726p. However, by late morning today they've lost 20p - more than half of yesterday's gain. ®

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