Telecoms Up On Rate View -- Telecoms Roundup

Shares of telecommunications companies ticked up as traders hedged their bets on the outlook for interest rates ahead of Federal Reserve Chairwoman Janet Yellen's speech from Jackson Hole, Wyo.

Shares of WPP, the world's largest advertising firm by revenue, slid after it warned that cuts to the ad budgets of major consumer products companies was eating into its growth.

Verizon Communications' decision to revamp its "unlimited" plan offerings was a good one, according to one brokerage. "We view Verizon's announcement as a savvy move to better segment the unlimited market and improve its share among underpenetrated subscribers, such as single-line users," said analysts at brokerage Nomura Securities, in a research note.

-Rob Curran,

(END) Dow Jones Newswires

August 23, 2017 16:39 ET (20:39 GMT)