Nokia shares jumped by 10.1% thereby topping the FTSEurofirst 300’s leaderboard. This strong show on the part of Nokia also helped in lifting the overall European equities market. It is thought that this surge is due to the speculation that it could launch new smartphones in early September before rival Apple unveils a next version of its iPhone.
Nokia shares slumped 72% in the first half of the year with hitting 15-year low of $1.63. However, with Q2 2012 Lumia sales figure better than expectations of analysts has made investors started finding value in the stock, which had been pushing the stock higher with a gain of 60% in the past three weeks from its near term low.