It's good to talk: Jupiter's Nutt backs BT

Jupiter's Tony Nutt has opened a new position in BT Group in his £37m split-cap Dividend & Growth trust.

Shares in BT climbed 7% yesterday after the group posted its Q3 results. The telecoms giant hiked its interim dividend following a solid second quarter which saw profits before tax grow 7% despite a 9% fall in adjusted revenue. In his trust’s report for the third quarter, Nutt (pictured) said BT looks attractive, having paid down a lot of its debt, and “is now set to benefit from a less onerous pricing structure and is offering films and sports programmes to its retail broadband customers.” He has also bought into life assurer Resolution despite its disappointing interim results. “The...