Nokia Oyj rose as much as 5.2 percent in Helsinki trading after the Wall Street Journal reported the world’s biggest maker of mobile phones is looking to replace Chief Executive Officer Olli-Pekka Kallasvuo .
Nokia Oyj ’s second-quarter profit plunged on competition from Apple Inc.’s iPhone. Chief Executive Officer Olli-Pekka Kallasvuo said a new device from the world’s largest mobile-phone maker will “kick-start” its comeback.
TeliaSonera AB rose the most in more than five months in Stockholm trading after SEB AB recommended buying the stock, saying strategy by new managers at Sweden’s largest phone company may help earnings and cash flow.
Nokia Oyj replaced Chief Executive Officer Olli-Pekka Kallasvuo last year after the stock sank 55 percent during his four-year tenure. Successor Stephen Elop has presided over a 37 percent loss in just eight months.