Upcoming Premier League TV Rights Auction Boosts BT's Market Forecast

BT "disconnected from a sluggish London market" on Thursday as "high hopes for the coming months" pushed the telecom higher, according to Callum Jones of the LONDON TIMES. Having slumped 39% after its January profit warning, BT was "boosted by a rare upgrade." Urging clients to buy, financial services company UBS listed "a series of potentially positive catalysts" including an agreement with pension trustees and the Premier League TV rights auction in the next year. Shares in the group rose 7p to a two-month high of 275p. Analysts at the Swiss broker insisted that they "remain cautious on the fundamentals for BT," but suggested that negative outcomes were already "priced in" before "possible slip-ups" on issues such as pensions or the Premier League. UBS said, "Newsflow over the coming quarters could turn more positive" (LONDON TIMES, 12/14).