BT shares rally as recovery doubts weigh on FTSE

BT shares rallied today after it made progress in tackling its pension scheme deficit, but fears about the global recovery continued to weigh on London’s leading shares index.

The telecoms giant rose 5%, or 11.9p to 232.1p, after it reported a sharp reduction in its pension deficit to £4.1bn and pledged to eliminate the shortfall in 10 years.