Nokia traded up in Helsinki on Friday as the AI optical narrative split analysts.
- Nokia Oyj HEL:NOKIA climbed 2.5% to 11.06 euros in Helsinki. The stock outperformed the OMX Helsinki 25, which added 0.82%.
- Nokia’s U.S.-listed ADR NYSE:NOK barely moved after sliding 6.51% on Thursday. U.S. markets were closed Friday for the Independence Day holiday.
- Analyst calls on Nokia went in different directions this week. Danske Bank raised its rating to buy, setting a 14-euro target. UBS stuck with a neutral call and kept its price target at 11 euros. LBBW lowered its rating to sell, now eyeing 9.75 euros.
Nokia Oyj HEL:NOKIA climbed in Helsinki on Friday, offering European markets action on the stock with the New York ADR closed for the U.S. holiday. The move followed two rough sessions for the ADR and news of a new optical-network deal in Belgium.
Helsinki traded during Nasdaq Helsinki’s regular hours, open from 10:00 to 18:30 local time. As of 13:33 EEST, Google Finance listed Nokia at 11.06 euros, up 2.50%. The stock touched a session high of 11.06 euros and a low of 10.80 euros, with just 1.70 million shares changing hands versus an average volume of 19.77 million.
| Market line | Last price/index | Day move | Read-through |
|---|---|---|---|
| Nokia Oyj HEL:NOKIA | 11.06 euros | +2.50% | Shares still down 26.3% from the 52-week high at 15.00 euros |
| OMX Helsinki 25 | 6,222.38 | +0.82% | Nokia outpaced the index gain by about three times |
| Nokia ADR NYSE:NOK | $12.07, July 2 close | -6.51% | No NYSE trading Friday due to U.S. market holiday |
Nokia has a 63.45 billion-euro market cap, so the stock is too big for Finland’s main benchmark to skip, but index rules limit how much it can count. Nasdaq notes OMXH25 is cap-weighted and puts a 10% ceiling on any name. If Nokia hits that 10% cap, a 2.5% move in the shares would deliver about 0.25 point to the index. That’s around a third of the OMXH25’s 0.82% jump on Friday, assuming Nokia was at the max.
MarketScreener’s component screen puts Nokia at the top of the OMX Helsinki 25 list by market value, coming in at $69.23 billion. Nordea Bank Abp (HEL:NDA-FI) follows with $65.5 billion. That’s the headline for index traders: Nokia has size to swing the Finnish index, but the cap means market value alone doesn’t tell the full story.
| OMXH25 component | Market value, MarketScreener | Friday move | YTD move |
|---|---|---|---|
| Nokia Oyj HEL:NOKIA | $69.23 bln | up 2.46% | up 98.31% |
| Nordea Bank Abp (HEL:NDA-FI) | $65.5 bln | down 0.10% | up 4.79% |
| Kone Oyj (HEL:KNEBV) | $30.26 bln | off 0.31% | down 15.92% |
| Sampo Oyj (HEL:SAMPO) | $28.43 bln | fell 0.84% | down 9.76% |
Nokia said July 2 it won a deal from Orange Belgium NV (EBR:OBEL) to be the only supplier on a multi-year project to revamp Orange Belgium’s transport network. The plan is to bring fixed and mobile networks into one optical transport system across Belgium. No contract value was included in the release.
Philippe Toussaint, CTO at Orange Belgium, said the network should “strengthen Belgium’s wider digital economy.” Guil Yazdi, vice president and client executive for Orange at Nokia, said networks “can no longer rely on linear growth or legacy architectures.” Nokia Corporation | Nokia
The order lands in the Nokia division equity investors have favored. In April, Nokia reported first-quarter net sales from AI and cloud customers up 49%, accounting for 8% of group sales, with €1 billion in orders from that segment. CEO Justin Hotard said Nokia was spending to meet “accelerating demand from AI & Cloud customers.” Nokia Corporation | Nokia
The stock is trading in the middle of a broad analyst range.
| Firm | Latest action | Target | Implied move from 11.06 euros |
|---|---|---|---|
| Danske Bank A/S (CPH:DANSKE) | Raised to buy from hold | 14.00 euros | +26.6% |
| UBS Group AG SWX:UBSG | Left at neutral | 11.00 euros | -0.5% |
| Landesbank Baden-Württemberg | Downgraded to sell from hold; target upped from 8.75 euros | 9.75 euros | -11.8% |
Nokia’s rally has moved the focus from its struggles with telecom capex to whether new optical and AI orders can drive earnings now. In April, Nokia stuck with its 2026 comparable operating profit goal of 2.0 billion to 2.5 billion euros. The company forecast Network Infrastructure net sales up 12% to 14%, with Optical Networks and IP Networks together expected to rise 18% to 20%.
Nokia is set to report its Q2 and half-year numbers on July 23. The company’s trading window for insiders is closed from June 23 through the report date.
