Helsinki shares close higher; Nokia underperforms UPDATE |
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Thu, 22 Feb 2007 18:21
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(updates with full report)HELSINKI (AFX) - Helsinki shares closed higher as engineering and industrial stocks remained in demand, though Nokia lost ground following a Swedish media report encouraging investors to sell the stock, traders said.The OMX Helsinki 25 closed up 0.72 pct at 3,114.56 points and the OMX Helsinki up 0.33 pct at 10,433.90 points, with volume at 1.14 bln eur.Outokumpu led the advancers, pulling back 2.63 pct after a fall yesterday to close at 29.66 eur. Metso, up 1.27 pct to 40.53 eur, Outokumpu Technology, up 1.78 pct to 27.40 eur and Cargotec, up 1.71 pct to 48.25 eur, also posted solid gains.Nokia closed down 0.74 pct to 17.35 eur. Swedish paper Veckans Affarer today wrote that investors would be wise to replace Nokia stock with Ericsson and Samsung in their portfolios.But analysts at Credit Suisse said Nokia is likely to benefit from problems at US rival Motorola in the first half of this year. The broker has raised its EPS estimates for this year and next and raised its target price on Nokia stock to 17 eur from 16, dealers said.In other news, Nokia said after the market close that Capital Group Companies Inc's holding in the group has risen to 10.03 pct, compared with 5.01 pct in September.TietoEnator added 0.85 pct to 21.26 eur, Fortum 0.52 pct to 21.36 eur and Neste Oil 0.40 pct to 24.92 eur.james.etheridge@afxnews.comje/cmlCOPYRIGHTCopyright 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
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Helsinki shares AFX at a glance outlook; Nokia in focus ahead of Q4 results 