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. Last Updated: 07/27/2016

Nokia Extends Long Bull Run




HELSINKI, Finland -- The world's No. 1 mobile phone maker, Nokia, on Tuesday added more than 8 percent to a remarkable 1999 bull run and overtook BP Amoco as Europe's top company by market capitalization.


The share closed 8.5 percent higher at 167.15 euros ($171), boosting its market cap to 203 billion euros against 189 billion for the oil firm, showing that mobile Internet is where investors see the future.


According to data in the Reuters Securities 3000 system, the firm is now just outside the global top 10 by market capitalization, well behind leader Microsoft but ahead of majors like AT&T, America Online and Coca-Cola.


For the year Nokia has more than tripled its share price against a gain of 34 percent for the Dow Jones Euro Stoxx 50 index.