London Stocks Steady Despite BT Nationalisation Pledge

Mohammad Ali (@ChaudhryMAli88) Published November 15, 2019 | 11:16 PM

London stocks crept ahead Friday, mirroring gains elsewhere, after earlier dipping when Britain's opposition Labour Party vowed to nationalise parts of telecoms giant BT and offer free broadband internet in an eye-catching election promise

London, (APP - UrduPoint / Pakistan Point News - 15th Nov, 2019 ) :London stocks crept ahead Friday, mirroring gains elsewhere, after earlier dipping when Britain's opposition Labour Party vowed to nationalise parts of telecoms giant BT and offer free broadband internet in an eye-catching election promise.

Labour leader Jeremy Corbyn, hitting the campaign trail in the city of Lancaster in northwestern England, said he would bring the parts of BT that deal with broadband into public ownership as part of a sweeping programme of nationalisations.

As the overall index closed the week down 0.77 percent on a week earlier, BT shares dived 3.7 percent before limiting the loss to 1.15 percent as dealers digested news that its broadcasting division had obtained exclusive broadcast rights to UEFA's European football matches until 2024.

Corbyn is seeking to seize the initiative from Prime Minister Boris Johnson's Conservative Party ahead of the December 12 election that has been dominated so far by Brexit.