Investors who swear by the predictive power of directors’ dealings seized on one interesting transaction this week. Simon Lowth, chief financial officer of BT, used a recent bonus to fork out £298,000 on BT shares, his first significant purchase in the 11 months he has been at the company.
This was hailed by some as a well-informed vote of confidence in the company’s prospects. If anyone understood BT, it was surely the financially astute Mr Lowth, who is seen as a serious candidate to succeed Gavin Patterson, the departing chief executive.
BT’s shares have been tumbling pretty much continuously for two and a half years on worries about its pension liabilities, its obligations to improve broadband quality, its lavish spending on TV sports rights and