We could saw very interesting week and perhaps even more interesting ahead. Especially last two days with bullish pressure after strong tech (Microsoft) earnings. My favourite among tech industries is European telecoms services (measured by DJ EURO STOXX telecommunication index). On Monday I've opened long position with Deutsche Telekom (DTE.DE). On Wednesday France Telecom (NYSE:FTE) posted strong results and lifted the whole sector. In recent months sector didn't show very good performance and its valuation is quite low (P/E ratio 12.5). Together with high dividend yield (3% on average, leader is MTA with 13%!) it is good pick.
Here you can see valuation for major European telco companies:
Telefonica (TEF) 14.29
Siemens (SI) 22.42
France Telecom (FTE) 13.82
BT Group (BT) 9.32
Royal KPN (KPN) 17.80
Magyar Telekom (MTA) 13.33
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