When the value of its shares fell, Nokia, the Finnish mobile phone maker, cut handset prices accordingly and started looking at other markets. This included plans to re-enter South Korea later this year. Nokia shares dropped by 1.2 percent.

Reuters posts some statistical details of European shares.

Shares in South Korea’s LG Electronics (066570.KS: Quote, Profile, Research) and Samsung Electronics (005930.KS: Quote, Profile, Research) fell in Seoul as talk circulated of a cut of up to 20 percent in the price of Nokia handsets.

The FTSEurofirst 300 index of top European shares was down 0.1 percent at 1,321.02 points at 0705 GMT, following a 1.7 percent fall on Friday that brought last week’s decline to 3.2 percent.
Crude oil CLc1 holding above $130 a barrel continued to put pressure on global equities as investor concern over the spread of inflation persisted.

However, oil prices affect the market and may cause speculation.

“Oil is key for future developments in the short term,” said FrankfurtFinanz strategist Heino Ruland, adding OPEC Secretary-General Abdullah al-Badri’s reiteration on Friday that runaway oil prices are caused by market speculation and not by supply issues would likely push crude futures higher and further hinder equities.

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