Bulls rush back to stock exchange
Peter Vinthagen Simpson · 24 Jan 2008, 14:34
Published: 24 Jan 2008 14:34 GMT+01:00
The OMXS index shot up 3.1 percent shortly after trading began and by mid-afternoon the index had continued up 4.1 percent to 311.55 points by 3pm.
Finnish telecom company Nokia led the positive start with a report far above analyst expectations. Nokia's stock shot up 12 percent to 222 kronor.
Telecom industry colleague Ericsson shared in the euphoria and its badly battered stock recovered 4 percent.
Only six major companies featured on the losers list by mid-afternoon. Among these were mining company, Boliden, whose stock had tumbled 18 percent by 3pm. Boliden issue a profits warning after its net profit for the fourth quarter came in 66 percent below analyst expectations. Boliden was joined by Lundin Mining whose stock had dropped 0.6 percent by 3pm.