HELSINKI, June 29, 2026, 14:01 EEST
- Nasdaq Helsinki had a regular Monday trading day. Stocks in Helsinki trade from 10:00 to 18:30 local time, and June 29 doesn’t appear on Nasdaq’s 2026 Helsinki holiday schedule.
- Nokia slipped 0.4% to 11.36 euros in late Helsinki trade, while the Helsinki 25 edged up 0.17%.
- Handelsbanken lowered its rating on Nokia to Hold but raised the price target to 12 euros, noting the stock is up almost 70% over three months and 170% in a year.
- Barclays kept its Sell rating. MarketScreener’s consensus page listed an average target price of 10.45 euros, which is lower than the last close.
Nokia Oyj HEL:NOKIA dipped in Helsinki on Monday, with most of the action in the broker calls. Handelsbanken (STO:SHB-A) took its rating down to Hold from Buy but bumped its target up to 12 euros from 10.20. The broker suggested Nokia’s AI run is now mostly reflected in the share price.
Nokia was at 11.36 euros, off 0.40%, as of 14:01 EEST. Shares dropped 6.52% on Friday, with most of the slide coming then. Monday saw only light selling afterward.
| Nokia Helsinki tape | Last/close | Day move | Volume |
|---|---|---|---|
| June 23 | €12.00 | down 2.28% | 17.53 mln |
| June 24 | €12.32 | up 2.62% | 12.91 mln |
| June 25 | €12.19 | fell 1.06% | 12.97 mln |
| June 26 | €11.39 | dropped 6.52% | 13.95 mln |
| June 29 | €11.36 | off 0.40% | 1.40 mln |
Google Finance showed Nokia’s average volume at 20.50 million shares, with Monday’s volume at 1.40 million by early afternoon. The 52-week range sits between 3.42 euros and 15.00 euros. That means Monday’s turnover reached just 7% of the daily average, with the drop in price minor compared to the bigger move Friday.
The index gap spells out the valuation story. Nokia fell on the day according to Trading Economics, but the Helsinki 25 ended higher. Even so, Nokia’s one-year gain was far ahead of the benchmark’s move.
| Measure | Nokia | Helsinki 25 |
|---|---|---|
| Latest | €11.35 | 6,154.28 |
| Day | down 0.35% | up 0.17% |
| 12 months | up 157.60% | up 28.75% |
Barclays (LON:BARC) kept its Sell call on Monday. That move isn’t just a sign of bears in the stock. MarketScreener’s consensus page showed a mean Outperform from 23 analysts, but the average target was 10.45 euros, or 8.28% under the last close.
Bullish arguments are pinned to the numbers. In April, Reuters said Nokia’s comparable operating profit for the first quarter rose 54% to 281 million euros, beating the 250 million-euro estimate from Infront analysts. Sales to AI and cloud customers surged 49%, and orders from those groups hit 1 billion euros. CEO Justin Hotard told Reuters the company was “tracking somewhat above” the mid-point of its 2026 comparable operating profit target. Reuters
Nokia said in its Q1 release that demand for AI and cloud has “accelerated significantly” from what it saw at the November capital markets day. The company upped its AI and cloud addressable-market growth forecast to a 27% CAGR for 2025-2028, up from 16% before. It now sees 2026 Network Infrastructure sales growing 12%-14%. Nokia Corporation | Nokia
Nokia’s AI story has lost its shine. Nvidia Corp NASDAQ:NVDA said in October 2025 it would put $1 billion into Nokia for a 2.9% stake tied to an AI and data center partnership. Nokia shares jumped 20.86% the day the news broke.
Hotard linked demand with Europe’s lack of infrastructure. In April he told Reuters, “The issue today is Europe doesn’t have the infrastructure,” adding that Europe needs more connectivity and more data center capacity to keep AI projects from shifting to China and the U.S. Reuters
Nokia scheduled its Q2 and half-year 2026 results for July 23. Markets are watching if its Optical and IP Networks units can keep up the 18%-20% growth Nokia outlined in April.
