The Dow Jones Industrial Average hit a record 40,000 this afternoon, seen as a major milestone for the index which tracks 30 of America’s top companies.
BT enjoyed its best day on the stock market since the dotcom boom after its first woman boss pledged to cut £3bn of costs and reduce heavy investment in broadband upgrades.
The shares of FTSE 100-listed BT Group, easyJet and Sage have experienced contrasting fortunes after the trio posted results. New boss Allison Kirkby said BT is moving to the next phase of its transformation, having passed the peak of spending on full-fibre broadband. BT’s shares surged, whereas the accounting software firm Sage and low-cost airline easyJet traded sharply lower.