Nokia among top STOXX gainers on Lumentum read-across

Lumentum Holdings

12/08/2026 15:20

** Shares in Nokia NOKIA.HE are up 9% to nearly top of STOXX .STOXX with analysts pointing to positive read-across from Lumentum's LITE.O better-than-expected quarterly results and outlook
** Lumentum, a key optical components maker, expects Q1 revenue in the range of $1.225-1.275 billion, midpoint up 135% year-on-year, which Danske Bank says was a 8% beat
** "This is particularly relevant for Nokia in terms of investor sentiment, and it increases confidence in the company's Optical business unit," ABG Sundal Collier analyst Simon Granath says
** "Lumentum continues to be faced with strong AI demand," Danske Bank adds
** Nokia's stock is the second biggest gainer on the European STOXX 600 index .STOXX

(Reporting by Alexander Klyve Gudbrandsen)
((alexanderklyve.gudbrandsen@thomsonreuters.com))