Market Updates

Europe Movers: Nokia, BHP Billiton, SAP, CAP Gemini

Nigel Thomas
11 Jan, 2013
New York City

    Nokia extended gains for the second day on the hopes that the new smartphone will lift last quarterly results. Resource sector stocks eased after China reported higher than expected inflation. SAP AG released new business software to automate processes.

Nokia closed up again on Friday after surging 11% yesterday on the hopes that the new smartphone Lumia will deliver better than expected earnings in the fourth quarter scheduled to be released in two weeks.

Resource sector stocks eased after China reported higher than expected annual inflation of 2.5% in December, lowering the prospect of another stimulus.

BHP Billiton declined 2.8%, Rio Tinto fell 2% and Anglo American Plc declined 1.5% to 2,040 pence.

Jeronimo Martins SGPS SA soared 6% to €15.55 after the Portugal based retailer said sales rose 11% in 2012. The company had guided last month that sales are expected to increase at least 10% annually for the three year through 2015.

SAP AG increased 1.3% to €61.35 after the supply chain and enterprise resource planning software developer released a new product in Palo Alto, California which the company claims will replace the software from Oracle, IBM and Microsoft.

CAP Geminin SA increased 2.4% to €34.30 after the close India-based rival soared 16% in Mumbai trading after it lifted its full-year sales outlook.

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