Helsinki shares close lower pulled down by Nokia - UPDATE |
|
|
|
Published
:
Wed, 10 Jan 2007 17:59
|
(Updates with full report)HELSINKI (AFX) - Helsinki shares closed lower pulled down by Nokia, which continued sliding during the day after news that Apple Computer Co unveiled a new mobile phone that could steal a significant share of the mobile phone market, brokers said.At the close, the OMX Helsinki 25 was 0.72 pct lower at 2,834.90 and the OMX Helsinki was down 0.90 pct at 9,327.57 on turnover of 1.454 bln eur.The HEX Tech index ended 1.21 pct weaker at 1,193.35 points.Nokia -- 2.21 pct weaker at 14.63 eur -- led the broader market into the red after investors were concerned that the new iPhone will be a threat to the giant handset maker.'The phone will be a threat for Nokia in the mobile music category,' eQ said in its morning report.But the brokerage said that the iPhone's inadequate battery power and the lack of 3G support could disappoint some users.'The Apple phone challenges Sony Ericsson in particular, but naturally also means competition for Nokia's music service,' FIM Securities said in its morning review.'The company (Apple) has boldly ventured into new areas, whereas Nokia, for example, has not been as active, concentrating primarily on phones,' it added.FIM also noted that Nokia is attempting to differentiate itself by providing a comprehensive mobile experience.Kesko B closed little changed -- 0.02 pct lower at 40.25 eur.The retail and distribution group said net sales in December grew 5.3 pct year-on-year to 791.1 mln eur, boosted by acquisitions abroad.Among energy stocks, Neste Oil closed 1.31 pct lower at 21.82 eur, while Fortum recovered from earlier losses and ended 1.28 pct firmer at 20.58 eur.Of the industrial issues, Outokumpu declined 0.98 pct to 27.30 eur, Rautaruukki K was up 0.25 pct at 27.97 eur and Metso changed hands 0.58 pct lower at 37.61 eur.Forestries were all lower, with UPM-Kymmene down 0.27 pct at 18.65 eur, Stora Enso R down 0.34 pct at 11.90 eur and M-real B was 0.44 weaker at 4.53 eur.Telecoms closed also in negative territories, with Elisa 0.46 pct lower at 21.72 eur.The mobile operator Elisa Oy said it has signed a letter of intent to outsource its order management and corporate customer invoicing to Barona Solutions Oy from Feb 1 as it seeks to cut costs.Sector peer TeliaSonera shed 2.98 pct to 6.19 eur.azer.sawiris@afxnews.comafs/ambCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
Helsinki shares close lower pulled down by Nokia 