Nokia Boosts Europe

Elena
20 Apr, 2006
Frankfurt

European markets advanced at mid-day on strong earnings results from mobile phone giant Nokia and positive news from French companies Vivendi Universal and Groupe Danone. Technology stocks led gainers after Nokia released strong quarterly results. The French CAC 40 led advancers, rising 0.7%, followed by the German DAX 30, up 0.4%, and London

[R]8:15AM European average advanced at mid-day.[/R]
European markets posted gains at mid-day, reflecting strong earnings results from mobile phone giant Nokia and positive news from French companies like Vivendi Universal and Groupe Danone. Technology stocks were leading gainers as Nokia rose 6% on net profit jump of 21% and 29% sales growth. Semiconductor stocks like Infineon and STMicroelectronics provided support. The French CAC 40 led advancers, rising 0.7%, followed by the German DAX 30, up 0.4%, and London’s FTSE, up 0.2%.


[R]7:45AM Asian markets closed mixed.[/R]
Asian-Pacific benchmarks closed mixed with the Nikkei reversing from yesterday’s advance to finish down 0.2% to 17,317.53. The Japanese index was dragged down by new record-high oil prices which hurt energy-sensitive stocks like Oji Paper which dropped 2%. Banking stocks also stood out among losers, ending a winning streak earlier in the week with Mizuho Financial Group falling 1.3%. In addition, economic data showing that trade surplus fell for the first time in four years further weighed. However, strong commodities stocks helped limit losses with Nippon Mining Holdings fell 1.35. Across the region, South Korea’s Kospi dropped 0.4%, Singapore Straits Times lost 0.3$, while Hong Kong’s Hang Seng added 0.1% on metals stocks.