The uptrend was picking up steam in the Nordic markets today. Investors started to buy into ‘soft landing’ as opposed to a crash for Chinese economy, new ‘Basel rules’ that give big U.S banks a decade to meet new guidelines and upped growth forecasts for the EU did not hurt either. Swedish market hit an annual high and H-M posted its highest share price ever.
Nokia continues to gather interest ahead of Nokia World event. Anssi Vanjoki, The last standing member of the original Nokia dream team of the Chairman of the Board Jorma Ollila, has resigned from his position. Mr. Vanjoki was seen as the only viable candidate for CEO from within the company and with the hire of an outside CEO last week, his career upward trajectory in Nokia had come to a close. Additionally his position might have been in danger with the new CEO as his current post Mobile Solutions unit has been the Achilles heel of the company as of late. Chairman Ollila himself seems to be willing to stick around until at least 2012.
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