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Market Update

Europe Movers: EasyJet, Monte Paschi, Nokia, SolarWorld

Author: Barry Randall
Last Update: 12:34 PM ET January 25 2013

Monte Paschi soared 11% to 25.95 euro cents on the speculation that the central bank of Italy will approve the aide to the lender as early as tomorrow and Finance Minister Vittorio Grilli is likely to address the parliament on the bank next week.

Investors also approved a plan to recapitalize the bank with 6.5 billion euros, a condition required to win the central bank approval.

STMicroelectronics increased 4% to 6.40 euros after positive comments from a broker Exane and said its venture with Ericsson AB is likely to invite investment from other companies.

EasyJet extended gains for the second day by 5% to 947 pence after the discount air yesterday reported a 9% increase in first quarter sales.

SolarWorld dropped 32% to 1.09 euros said that it will restructure debt of 805 million euros after a review by third party to determine the financial health of the company.

Nokia Oyj declined 7% to 3.05 euros after yesterday it said it swung to quarterly profit but struggled to increase its market share in the U.S. in smarphone sales. Danske Bank today lowered its outlook on the stock and demand for its low end phones is weakening rapidly.

Also, Samsung said after it reported record earnings yesterday that smartphone sales are expected to fall globally in the first quarter from holiday sales in the fourth quarter.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc