BT slumps as Euro markets pick up

NEWS BT shares fell this morning after the company warned shareholders will not receive an interim dividend as the company foots a £500m charge on its Concert investment with AT&T. Shares fell 3.67 per cent to 358.75p as BT boss Christopher Bland warned the company could face additional Concert related charges and a £720m investment charge on a stake in AT&T Canada. BT's board said they hoped to pay shareholders a full year dividend, although it is likely to be lower than previous payments. While BT fell, European markets were moving up this morning after hitting four-year lows last week. The FTSE was up 2.17 per cent after losing 12 per cent last week, the CAC 40 jumped 2.93 per cent after losing 17 per cent and the Dax began to recoup its 20 per cent fall with a 2.88 per cent increase.