USD will rally against Euro tomorrow due to European bank runs. The decision to rob the Cypriot depositors of up to 9.9% of their account balance is unprecedented and fear will spread like a contagion into worldwide markets.
Not sure what Nok1v will do (denominated in Euros), but I'm positive Nok ($adr) will be red tomorrow. Quite a lot of damage has been done to faith in the Euro.
This has shaken my otherwise rock solid confidence in Nokia. I hope I'm wrong about this...
It's going to be a bumpy ride for Nokia longs tomorrow. The Euro has been under pressure for weeks already and now this Cyprus nonsense is going to be a mule kick to the gut for the Euro.
Nokia's sales in the U.S. are only a small portion of overall sales right now so the effects on NOK1V.HE (ordinary shares in Helsinki) should be minimal. The thing that will hurt NOK (U.S. ADRs) is the conversion rate. Buckle up those chin straps boys and girls!
I say the EU is not going to be dragged under by this, especially since it has survived
Greece's problems so far. It's an external tempest in a teapot that will be sorted out.
For those wishing to buy Nokia's stock this is a gift, unrelated to its global business.
"Over 744 thousands shares ready for trade in Euro & NYSE."
228.57M shares traded in Helsinki on Friday. Nokia has been under
forced selling for the past few weeks, because it's being expelled from the
Euro Stoxx 50 Index. This is a buying opportunity with little downside.