Traders at mirabaud Securities said Bloomberg reports supported the stock, possibly triggering short covering.
Citing people familiar with the matter, Bloomberg reported that Nokia was considering strategic options and was working with consultants to consider potential asset sales and mergers. But the report gave no further details.
But a source close to Nokia said the report was untrue. Nokia declined to comment on the news.
Nokias technology division, which manages a broad patent portfolio, reported a 3% increase in operating profit in 2019 from 1.24 billion euros ($1.35 billion) a year earlier, while sales fell 1% to 1.49 billion euros. (Tianmen Mountain)
Source: Wang Fengzhi, editor in charge of Netease Technology Report