BT, Morrisons and esure

The FTSE 100 started the day on the front foot despite Wall Street retreating overnight, on mixed economic reports, and moderate declines in Asia this morning.

“Telecoms giant BT has rung up its best underlying revenue performance for seven years and plans to spend billions of pounds to boost superfast broadband coverage,” says AJ Bell Investment Director Russ Mould.

“BT is, of course, no stranger to massive investment. It paid handsomely for the UEFA Champions League and Europa League. But the latest figures justify the spend with BT Sport’s audiences up by 45% this year.

“Morrisons’ like-for-like sales have risen for the second quarter in a row with the group’s ‘back-to-basics’ approach finding favour with shoppers. The price war, though, goes on and the threat from discounters remains.

“Insurance group esure’s shares were up in early trading after gross written premiums rose by 15.5% in the three months to the end of March. Income from its price comparison site Gocompare.com increased by 19%".

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