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Short Take: Telco ADRs gain on world market boost

Strong showings in foreign markets helped boost international telecom and phone equipment American depositary receipts in U.S. trading. Traders said investors have shown increasing optimism about the introduction of the euro in 1999, according to a Reuters report. Shares of France's Alcatel rose 4.5 percent, while British Telecommunications ADRs rose 2 percent. Britian's Energis jumped 8 percent in afternoon trading.

Strong showings in foreign markets helped boost international telecom and phone equipment American depositary receipts in U.S. trading. Traders said investors have shown increasing optimism about the introduction of the euro in 1999, according to a Reuters report. Shares of France's Alcatel rose 4.5 percent, while British Telecommunications ADRs rose 2 percent. Britian's Energis jumped 8 percent in afternoon trading.