There's hope that Deutsche Telekom AG's (Germany: DTE, OTC: DTEGF, ADR: DTEGY) EUR30 billion, three-year investment plan announced in December 2012 will help lead a return to investment in the Europe, Middle East and Africa (EMEA) region.

The reaction in the Italian ETF and ADRs is signaling favorable gains as well. The iShares MSCI Italy Capped Index (NYSEMKT: EWI) is up a sharp 2.5% at $13.19 on the day, and the ADRs for Telecom Italia SpA (NYSE: TI) are up 4.6% at $8.40 on the day in ...

The BNY Mellon index of leading European ADRs slipped 0.4 percent, while the FTSEurofirst 300 index of top shares closed down 0.1 percent.

U.S.-listed shares of Telecom Italia rose 4.2 percent to $8.37 while oil and gas company Eni SpA advanced 1.6 percent to $47.60.

Telecom Italia advanced 2.4 percent to $8.38 after the company's chairman said a proposed spin-off its domestic phone lines, its most valuable asset, would take time to execute.