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Telecoms stocks have fallen around the world.
There was more support for telecoms stocks following this week's strong results from France Telecom.
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The telecoms group's shares are up 2.9% at 134.85p, benefiting from an extra boost from analysts at JP Morgan, who upgraded their stance on the European telecoms sector to "overweight", and advised exposure to the British mobile telecoms stock.
Dominique Strauss-Kahn, Frances powerful minister of economy, finance and industry, said he will establish the fund with the proceeds from France Telecoms stock offering.
"Telecom stocks are very much in vogue these days.
And telecom stocks look pretty good for the long term.
"But throughout the world, you see that telecom stocks are in the doldrums".
His breathless buoyancy on the sector drove investors into dicey telecom stocks.
We returned the favor -- we bought tech and telecom stocks in their markets.
We don't have the Nokias of the world, and there is a mania for technology and telecom stocks.
That means that the managed funds were hurt less when the largest technology and telecom stocks collapsed.
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