first_imgThis week’s stock market reviewBritish Telecom once again dominated the minds of City analysts last week.First came the news that the company’s US competitors Alta Vista and NT wouldradically cut their Internet access charges to UK customers. The news weakenedBT and also proved a severe body blow to Freeserve, the Internet subsidiary ofDixons, whose share price plummeted. BT’s weakness was only short-lived, however, as it announced a cut incharges and revealed plans to link up with more than 30 companies in a bid tomake the Internet a mass market game. After the announcement, BT stock put in astorming performance, which helped propel the FTSE to above the 6,600 level. Many analysts have been growing inpatient with the company, which theyregard as a toothless bulldog. Now, though, a strong buy recommendation hasbeen placed on BT with a price target in excess of £20. raises offer share price at the 11th lived up to its name last week when it shifted the goal postat the 11th hour before the close of its floatation offer. On Thursday, itannounced a 67 per cent jump in the price at which investors could subscribefor its shares by the deadline of last Friday. The hike means investors can expect to pay up to £3.80 per share – farhigher than the £2.30 the Internet shopping company indicated the week before. On the basis of the new price, the company will immediately be worth morethan £530m and the two young founders of the company are expected to pocketbetween £110m and £160m between them.Blue-chip departures boost stock pricesSainsbury’s sacking of its managing director and the resignation of BritishAirways’ chief executive has had a marked effect on both companies’ shareprices. Sainsbury’s rose more than 10 per cent and British Airways’ by 15 percent before retreating to negative territory. Related posts:No related photos. BT bounces back on wave of Net plansOn 14 Mar 2000 in Personnel Today Previous Article Next Article Comments are closed. last_img read more