Trim stalks and cut fennel bulb lengthwise into 1/4-inch-thick strips, discarding core. Cut carrots into 1/4-inch-thick sticks. Heat oil in a large nonstick skillet over moderately high heat until hot but not smoking, then saute fennel and carrots with salt to taste, stirring occasionally, until they begin to brown. Add wine, water, and sugar and simmer, covered, 5 minutes. Boil, uncovered, stirring occasionally, until liquid is evaporated and vegetables are tender. Season with salt and pepper.