War sees TMT outpace wider market

Professional Adviser
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By Jeremy Knight, European fund manager at Legg Mason Investments With equity markets bouncing s...

By Jeremy Knight, European fund manager at Legg Mason Investments With equity markets bouncing strongly on the outbreak of hostilities with Iraq, it is hardly surprising the telecom, media and technology sectors have outpaced the wider market. The media and IT sectors had been poor performers and were looking oversold. The telecom sector on the other hand had outperformed both the counterparts in its sector and the FTSE World Europe index over the past year. This is despite record corporate losses in their respective countries by the likes of Deutsche Telekom and KPN. In recent mon...

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