MARKET TALK: BT Group Pay Deal Well Received

9th Jul 2010 10:17

0917 GMT [Dow Jones] BT Group's (BT.A.LN) new pay-deal with its biggest union has been well received by the market, with the stock +2.2% at 139p. "We think this is good news for BT and its shareholders," Collins Stewart analyst Morten Singleton says. Liberum Capital's Mark James reiterates "BT has much more flexibility to cut costs than some of its European peers," such as France Telecom (FTE.FR), where last year staff costs rose 6% versus BT's 10% year-on-year decline. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 09, 2010 05:17 ET (09:17 GMT)