Stockwatch Daily: BT loses out as Europe sits tight

BT stock tumbled in London this morning after the telco announced a new share issue. BT Shares were down 5.63 per cent to 536.5p at 09:25(BST). But overall European stocks remained flat as investors wait to see if the European central bank and Bank of England decide to cut interest rates today.

The FTSE was down 0.8 per cent to 5,888, while the Techmark dropped 0.1 per cent to 2,028 just after 09:20(BST). Internet infrastructure provider Telecity also took a sharp fall, down almost 54 per cent to 140p, after posting widening first quarter losses, while BSkyB continued its drop, down 1.68 per cent to 789.75p, after yesterday's disappointing results.