M2 jumps on buy calls

The telco's share price has risen on buy calls from Citigroup and RBS Morgans following its poor performance since August.

M2 Telecommunications (MTU) has bounced after brokers said its recent share price fall provided investors with a good opportunity to buy the stock.

The Uncapped 100 company jumped 2.8% to $6.16 at 1338 AEST following the reports to clients from Citigroup and RBS Morgans, adding to its 3.8% gain on high volume on Friday – its biggest two-day rise in six months.

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