Telecom stock values rise

Telecoms stocks were amongst the biggest gainers in yesterdays S&P 500, advancing by 2.7 per cent.

Amongst the highest risers were Qwest Communications International, whose stock rose by 5.3 per cent to $4.01 following a recommendation from Citigroup that investors buy the shares, stating that the company "remains ripe for both an operational and financial restructuring to improve returns to shareholders."

Verizon, one of ITC's partners, added 2.1 per cent to their stock which rose to $35.30, whilst AT&T saw their stock rise by 2.8 per cent to $31.84.

Published: 13th August, 2008

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