HELSINKI, September 2, 2026, 16:04 EEST — Nokia shares advanced 0.3% as market participants looked ahead to the company’s potential return to the EURO STOXX 50 index, establishing a key catalyst for the stock in September.
- Nokia Oyj NYSE:NOK was changing hands at $9.96 at 09:03 EDT, rising 0.3% in premarket trade.
- The ADR dropped 2.1% on Tuesday with 61.3 million shares traded, before gaining a September 21 index boost.
- Nokia reported €2.8 billion in AI and cloud orders for the second quarter, with around half anticipated to convert in the next 12 months.
Nokia Oyj NYSE:NOK gained 0.3% prior to the start of U.S. trading on Wednesday. The ADR touched $9.96 as of 09:03 EDT. The increase came after the announcement that Nokia is set to re-enter the EURO STOXX 50 on September 21.
The index adjustment triggers automatic demand from benchmark portfolios. However, the slight increase followed a 2.1% drop on Tuesday. This contrast shifts the main focus to earnings performance instead of index inclusion as the principal test of valuation.
STOXX revealed its blue-chip review following the close of European markets on Tuesday. Nokia will join the index prior to the start of trading on September 21. This adjustment brings the Finnish network equipment company back into a major euro-zone benchmark.
Nokia ADR: Wednesday premarket path
U.S. dollars per ADR. Tuesday’s regular-session close was $9.93.
As of . Source: Yahoo Finance.
On Tuesday, 61.3 million Nokia shares changed hands, 5.8% higher than its 10-day average but below the three-month average of 92.5 million. Trading was active yet did not reach abnormal volume levels.
The ADR is currently 7.5% under its 50-day average and 4.2% higher than the 200-day moving average. Trading at $9.96, it remains 42.9% beneath its 52-week peak.
Where $9.96 sits in Nokia’s range
ADR reference levels in U.S. dollars.
Price as of September 2, 2026, 09:03 EDT; moving averages and range through September 1. Source: Yahoo Finance.
Nokia’s second quarter results illustrate the valuation bar investors are probing. Network Infrastructure revenue increased by 12% at constant currencies. Optical Networks advanced by 20%, and IP Networks registered a 16% gain. Comparable operating profit for the group rose 18% to €434 million.
Order intake for AI and cloud totaled €2.8 billion. Chief Executive Justin Hotard stated: “We expect around half of these orders to convert to revenue over the next twelve months.” He noted that supply continued to be the primary limiting factor.
Q2 growth engine: network infrastructure
Year-on-year changes at constant currency unless noted.
Source: Nokia, July 23, 2026.
Nokia announced the launch of a new research facility in Riyadh focused on developing software for AI-powered automation and orchestration. The company did not disclose investment figures or projections for short-term revenue in its statement.
Valuation provides limited scope for a gentle transition. Nokia was valued at roughly 20.0 times its estimated future earnings. Ericsson NASDAQ:ERIC traded close to 16.1 times forward earnings, while Cisco Systems NASDAQ:CSCO hovered near 19.6 times.
The upcoming operational checkpoint is scheduled for October 22. Nokia anticipates that third-quarter sales will increase by 3% to 7% quarter-on-quarter. The company projects that comparable operating profit will remain roughly stable ahead of a more robust fourth quarter.
Risks: passive purchases may subside after the rebalance is finished. Order conversion could be postponed by supply constraints. Reported profit may also be affected by restructuring, fluctuations in currency, and reduced carrier spending.
The September index date could aid turnover. Sustainable rerating, however, depends on AI orders translating into revenue, margins and cash flow.
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