Mobile shares fall ahead of Nokia data

Ericsson and Vodafone take a hit...

Shares in mobile companies have taken a knock ahead of mid-quarter financial figures expected later today from Nokia. The mobile phone and equipment maker could well slice its sales forecasts for the second-quarter, according to media speculation. This morning European shares responded by getting off to a jittery start. Nokia itself was trading down by two per cent. The anticipation has sent ripples across the rest of the industry dragging down Swedish rival Ericsson by three per cent. In London, Vodafone was off by just over one per cent. The mid-quarter report will indicate how sales and earnings per share will fair in the coming quarter. It will also have a bearing on the forthcoming performance of the European markets.