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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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Sokos drops fur products, Centre party MPs threaten boycott

Jyväskylän Sokos.

The Finnish co-op group's department store, Sokos, has announced it will stop stocking fur products. The move brought plaudits from animal rights advocates, but criticism and threats of a boycott from Centre Party MPs. A store representative originally said the decision was made to improve animal welfare, but later, after the political backlash, S Group management corrected the message, saying the company had no official stance on fur production and was dropping furs due to a lack of demand.

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