Telecoms Down, But Not By Much, On Defensive Rotation -- Telecoms Roundup

FeaturesDow Jones Newswires

Shares of telecommunications companies fell, but not by as much as the broad market, as traders rotated out of the growth-oriented, economically cyclical sectors that have driven gains for much of the bull market, into more defensive areas.

Shares of carrier AT&T rose ahead of its earnings report Wednesday.

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Carlos Slim, once a mentor to AT&T Chief Executive Randall Stephenson, is now a rival as the U.S. company poaches customers in Mexico from his cell-phone carrier American Movil, which once held a near monopoly there.

--Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 30, 2018 16:22 ET (21:22 GMT)

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