LONDON Feb 10 European stocks opened higher on
Monday, led by Finnish handset maker Nokia after it
settled patent claims with rival HTC.
Shares in Nokia rallied 6.9 percent after what analysts at
Credit Suisse describe as a "benchmark win", which they see as
paving the way for future licensing deals and higher revenues
The stock was the top riser on the pan-European FTSEurofirst
300 index, which was up 0.3 percent at 1,303.78 points,
rising for a third straight session.
The index, up nearly 40 percent since June 2012 was
supported by optimism about a global economic recovery, led by
developed economies such as Europe and the United States and
lower appetite for debt as the Federal Reserve scales back its
bond purchase programme.
Justin Haque, a broker at Hobart Capital Markets, said
investors have become overly confident about the stock market's
ability to withstand the withdrawal of U.S. monetary stimulus
and cautioned the recent bounce may be short-lived.
"People are still buying the dips because that's what they
have been doing for the past year and a half," Haque said.