Movement Alert|Nokia Oyj Rises 3.19% Overnight, Euro STOXX 50 Inclusion Approaching as Morgan Stanley Upgrade Continues to Fuel Momentum

Market Focus
Sep 08

On September 8, Nokia Oyj rose 3.19% overnight, trading at $10.34/share, with turnover of $730,100.

On the news front, the stock's rally was driven by a dual catalyst: Nokia has confirmed it will officially rejoin the Euro STOXX 50 index on September 21, replacing Volkswagen AG. As the inclusion date draws closer, expectations for passive fund rebalancing inflows continue to build. Index compiler Stoxx announced the annual review results on September 1, with both Volkswagen and Wolters Kluwer being removed, while Nokia and French energy giant Engie take their places.

Simultaneously, Morgan Stanley significantly raised its European-listed Nokia target price from EUR 4.2 to EUR 6.5, upgrading the rating from hold to overweight. The institutional bullish signal has continued to bolster market sentiment. In addition, Nokia recently opened a new AI-powered network automation R&D center in Riyadh, Saudi Arabia, exploring AI-native 6G technologies, and was ranked No. 1 globally for mobile core portfolio competitiveness by Omdia for the second consecutive year, reinforcing its technology leadership narrative.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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