Telecoms top European default swap tables

The telecom sector dominated the European credit default swap market in 2007, according to interdealer broker GFI Group. GFI says four of Europe's five most active single names are telecoms companies: Telecom Italia, KPN, Deutsche Telekom and Telefonica. Banking and food were the second and third most traded sectors in Europe. In the US, financial services provided the most heavily traded sector. Single names highlighted by GFI in its year-end report for the US include Countrywide Home Loans