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4-Traders Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Nokia Oyj    NOKIA   FI0009000681

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EUROPE MARKETS: German Optimism Boosts Europe Stocks

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01/25/2013 | 01:22pm CEST

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- European stock markets were on track for a third straight day of gains, after upbeat German business data and encouraging comments from European Central Bank President Mario Draghi cheered investors.

The Stoxx Europe 600 index gained 0.2% to 289.40, adding to Thursday's gains when the benchmark closed at its highest level since February 2011.

Shares of Nokia Corp. (>> Nokia Oyj) posted some of the biggest losses in the index, down 5.6% to EUR3.11, adding to a 5.5% prior-day loss on the back of a mixed earnings report. UBS cut the Finnish handset maker's price target to EUR2.80 from EUR3.

On a more upbeat note, shares of STMicroelectronics NV gained 4.4%, after Exane BNP Paribas lifted the chip maker to outperform from neutral.

On a broader basis, investors tracked comments from Draghi as the ECB boss spoke at the World Economic Forum in Davos. Draghi said that economic activity was stabilizing, while also foreseeing a recovery in the second half of the year.

Separately, the ECB said banks that participated in the three-year, long-term refinancing operations, also referred to as LTRO, will begin next week to repay 137.2 billion euros ($183.59 billion) of the more than 1 trillion euros in loans provided in December 2011 and February 2012.

Investors also focused on the latest data set from Germany. The Munich-based Ifo Institute's January business-climate index took an unexpectedly strong jump to 104.2 from 102.4 in December, signaling that a widely-suspected contraction in the fourth-quarter may have come to an end.

"January's rise in the German Ifo business survey provides further hope that Q4's estimated sharp fall in GDP will be a one off," Ben May, European economist at Capital Economics, said in a note.

"Nonetheless, given that the effects of the recent appreciation of the euro are unlikely to have been fully felt by exporters, it is too early to conclude that Germany will record a strong and sustained expansion in 2013," he added.

The DAX 30 index rallied 1.2% to 7,839.01, with shares of Commerzbank AG rising 0.9%.

Economic data out of the U.K., however, weren't as bright.The Office for National Statistics said the U.K. economy contracted 0.3% in the fourth quarter, worse than economists had expected.

U.K. stocks were slightly higher, with the FTSE 100 index trading around 6,267.15.

Shares of Royal Dutch Shell PLC (RDSB) gained 0.8%, after Société Générale lifted its rating on the oil major to buy from hold.

France's CAC 40 index rose 0.6% to 3,772.87, with shares of Credit Agricole SA up 2.4%. The bank said it would take a hit of around EUR160 million euros due to a EUR651 million impairment charge at the regional-bank level, but that it wouldn't effect its consolidated results or solvency ratios.

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Stocks mentioned in the article : Nokia Oyj
Stocks mentioned in the article
ChangeLast1st jan.
CAC 40 -1.30% 5565.62 Real-time Quote.5.68%
CRÉDIT AGRICOLE -1.28% 13.08 Real-time Quote.-2.64%
DAX -1.26% 12972.31 Delayed Quote.1.24%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.-5.90%
NOKIA OYJ -1.90% 5.166 Delayed Quote.35.95%
ROYAL DUTCH SHELL -2.53% 30.39 Delayed Quote.12.83%
STMICROELECTRONICS -2.68% 19.65 Real-time Quote.11.18%
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Financials (€)
Sales 2018 21 906 M
EBIT 2018 2 010 M
Net income 2018 -36,0 M
Finance 2018 3 499 M
Yield 2018 3,82%
P/E ratio 2018 527,20
P/E ratio 2019 31,20
EV / Sales 2018 1,20x
EV / Sales 2019 1,18x
Capitalization 29 689 M
Duration : Period :
Nokia Oyj Technical Analysis Chart | NOKIA | FI0009000681 | 4-Traders
Technical analysis trends NOKIA OYJ
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 5,57 €
Spread / Average Target 5,6%
EPS Revisions
Rajeev Suri President & Chief Executive Officer
Risto Kalevi Siilasmaa Chairman
Joerg Erlemeier Chief Operating Officer
Kristian Pullola Chief Financial Officer
Marcus Weldon Chief Technology Officer
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