Sep. 2 at 2:18 AM
Nokia is returning to the Euro Stoxx 50, while Volkswagen is being removed in the latest sign of diverging fortunes between Europe’s technology and automotive sectors. Nokia will rejoin the benchmark before the Sept. 21 market open, ending a year-long absence. French utility Engie will also enter the index, while Dutch information-services company Wolters Kluwer will leave.
Nokia shares have more than doubled over the past year, as investors have responded positively to its growing exposure to AI, cloud infrastructure and next-generation mobile networks. The company’s AI strategy has helped revive investor interest and strengthen its position among Europe’s largest companies.
Volkswagen’s exit follows another difficult year for its stock, pressured by intense competition from Chinese automakers, efforts to reduce costs and the expensive transition to electric vehicles. Its departure leaves BMW, Mercedes-Benz and Ferrari as the only automakers in the Euro Stoxx 50.
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