Providing an insight into the growth sectors of the economy, share performances this year also show some traditional stalwarts like British Airways and Marks & Spencer dragging the chain.

Colt Telecom leads the FTSE-100 field after its share price has risen 498% to 920p from 153.75p over the year while it and its major rivals filled each of the top five positions.

In October, the fast-expanding company reported a 200% increase in third-quarter profits to £61m.

Colt was joined by Orange, Telewest Communications, Vodafone and British Telecom as the top five performers, according to a markets survey by Datastream/ICV.

Tobacco surprise

Tobacco stocks also figured highly with BAT and Imperial Tobacco taking eighth and eleventh places.

Shares in BAT soared 5% after the US tobacco industry signed a compensation agreement last month that ended a number of lawsuits brought by a group of US states over public-health costs.

Investors welcomed the news that tobacco companies would finance the $206bn settlement by raising tobacco prices.

Big names flagging

However, chemical giant ICI turned in the worst share performance among the top 100, down 44% in 1998, followed by the troubled BTR, which is 36% lower.

BA shares grounded

Industrial stocks have fallen prey to a strong pound, Asian economic woes and structural factors which see UK manufacturing in decline.

British Airways and Marks & Spencer were also among the bottom five.

With two days of trading next week still to go this year, the FTSE 100 index is up 13% after one of its most volatile years which saw the leading index travel through a 1600-point range between 4600 and 6,180 to be at 5,867 by Christmas.

"In the FTSE 100 index, of particular note is the decline against the market of companies regarded as bellwethers of the UK economy," Steve Kelly, corporate communications manager at Datastream/ ICV, said.

Telecoms is so far the best performing sector, up 96%, with tobacco and gas distribution bringing up second and third places.