FTSE on the front foot

BT’s £9bn (€10.2bn) pensions black hole caused further anxiety for investors today after it revealed that the Pensions Regulator still had “substantial concerns” about the company’s plans for tackling the deficit.

The stock slumped 8%, or 10.5p to 120.9p, even though the telecoms firm reached agreement with trustees about addressing the shortfall over 17 years. BT’s third quarter results were also slightly ahead of expectations.