Finland will gain some weight in the from September 19, when the changes announced last week come into effect and replace their compatriot and the Dutch. After this review, France and Germany continue to be the markets with the highest representation (15), followed by the Netherlands (7) and Spain (4).
While (not in vain it was the largest company by capitalization of the European stock market in the , when it was worth more than 300,000 million euros on the floor), for the financial institution it is the first time.
With a capitalization of around 29,000 million euros, the technology company will rank 44th among the largest in the selective market size of a ranking led by , and . The one that was responsible for the expansion of mobile telephony with quality and affordable models for all pockets (and that did not know how to adapt or be competitive in the age of smartphones) today is worth almost 11 times less than two decades ago.
Nordea Bank has quadrupled its market capitalization in the last 22 years
Although brands such as , Samsung, Huawei or Xiaomi overtook Nokia in the mobile phone market, the Scandinavian company is today one of the main providers of telecommunications equipment in the world. In fact, the company said in July that it was on track to hit the high end of its 2022 revenue forecast as sales of its telecommunications equipment rose in North America and its efforts to recover from the mistakes of recent years showed success signs. Nokia produces 5G cell towers and other hardware components used in communications networks, and in July it said that sales for the second quarter of the year had risen 11% from the same period a year earlier, to approach the 6,000 million euros. The benefit grew by 31% year-on-year in the quarter to 460 million.
According to The Wall Street Journal, “Like its Swedish rival, Nokia reported that its quarterly sales increase was driven by its largest market, North America, where sales grew 35% as telecom service providers they did with teams.” Likewise, the financial newspaper pointed out that Nokia and Ericsson have benefited from the campaign promoted by the US so that its allies veto Huawei.
The third bank in the index
Nordea’s stock market performance so far this century has been very different from that of Nokia, a period in which the bank has quadrupled its stock market value. The successful implementation of the strategic plan that Nordea launched in 2019 has been reflected on the floor, beating the European banking sector by 65 points of profitability since that year and achieving all-time highs at the beginning of January.
Its landing in the EuroStoxx 50, with a stock market value close to 35,000 million euros, places it as the 37th company by size of the indicator and the third largest bank, only behind BNP Paribas (58,000 million) and Santander (55,500 millions).
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