Last week in telecoms: record performance with telecom index closing in on benchmark, BT up sharply

Last week was the the year's best so far for the European telecoms sector. Our index was up 4.0 percent, outperforming the EuroStoxx 50 index (+2.5%) and reversing much of the previous week's losses. The year-to-date performance of our index (-11%) and its benchmark (-8.3%) have come closer. There was a record eights stocks making double-digit gains. Earnings reports were generally welcomed, except those in the satellite sector. BT made a 15 percent jump on regulatory developments. The western and southern