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Nokia being dropped from Euro Stoxx 50 Index

Nokia is being dropped from the Euro Stoxx 50 Index, the leading Blue-chip index for the Eurozone.

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Some mutual funds will be forced to sell off holdings in the Finnish-based mobile phone maker. Image: Nokia

The announcement that Nokia is to be dropped came as a part of a regular index review and component update on Friday.

The index covers 50 stocks from 12 Eurozone countries. The change will force some mutual funds to divest Nokia shares which may drive prices down. The move is to take effect on the 18th of this month.

At present, Nokia is listed 34th in the Euro Stoxx 50 Index.

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