European Stocks Slip After Rally, Nokia Surges

European stock markets opened cautiously lower on Tuesday after a strong rally the prior day, with shares of Nokia Oyj soaring after a deal with Microsoft Corp. .

The Stoxx Europe 600 index slipped 0.1% to 302.62, after gaining 1.9% on Monday. Nokia shares surged 44% after Microsoft agreed to buy most of the Finnish company’s devices and services business in a deal valued at $7.17 billion.

Other telecom-related firms were also on the rise, with shares of Alcatel-Lucent SA up 6.2% and LM Ericsson Telefon AB rising 2.7%. Among country-specific indexes, the U.K.’s FTSE 100 index fell 0.1% to 6,499.65, while France’s CAC 40 index dropped 0.3% to 3,995.86. Germany’s DAX 30 index was slightly lower at 8,243.43.

Source :  Marketwatch