Nokia Set to Rejoin Euro Stoxx 50 Index as Volkswagen Loses Its Spot (NOK:NYSE)
Nokia returns after shares rose on fiber-optic demand for AI data centers, while Volkswagen exits after a nearly 27% decline this year, Stoxx said.
- On Tuesday, index provider Stoxx announced in its annual review that Nokia Oyj will rejoin the Euro Stoxx 50 index, while Volkswagen will be removed.
- Volkswagen shares have dropped nearly 27 per cent so far this year as the automaker struggles against Chinese competition and pushes ahead with a restructuring.
- Nokia's share price remains more than double last year's value, bolstered by the company's strategic shift toward selling fibre-optic equipment to firms building AI data centres.
- Effective September 21, the broader Stoxx 600 Index will add National Bank of Greece and Alpha Bank after Greek equities were reclassified to developed market status.
- While Engie joins the Stoxx 600, other companies including Wolters Kluwer, JD Sports Fashion, Thule Group, and Fraport AG are set to exit the index.
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15 Articles
Volkswagen is knocked out of Europe's most important index, Nokia gets in. The change reflects another sign of the difficult situation of the European automotive industry, according to Bloomberg. Stock Exchange, Stock, Volkswagen, Europe, Artificial Intelligence, Nokia, Stoxx 600, Stock Index.
The Dax continues to expand its losses from the day before. Volkswagen has to leave the EuroStoxx 50 and kicks in, while Adidas starts a recovery attempt. The exploding oil prices push the indices overseas deeply into minus.
The Stockholm Stock Exchange starts Wednesday in the red in the wake of continued interest rate hikes and unrest in the Middle East. At the company level, Finnish Nokia is rising after its share was included in the prestigious Eurostoxx50 index.
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