Jul 28, 2017

FTSE 100 opens lower as BT shares fall

Shares in telecoms group BT dropped 3% after it took a £235m charge related to its Italian accounting scandal. BT is paying the money to Deutsche Telekom and Orange to avoid legal action over the issue. The two companies now hold stakes in BT as a consequence of the deal that saw them sell the EE mobile network to the UK company. BT was the biggest faller in the FTSE 100, with the index down 32.01 points at 7,411. Shares in British Airways owner IAG rose 1.4% after the airline group reported a strong rise in half-year profits, despite being hit by costs related to BA's computer failure in May. Barclays shares rose 0.8% on the back of its half-year results.

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