Nokia shares lifted by well-received results Forecast-beating results propelled Nokia to the top of the FTSE Eurofirst 300 on Thursday morning as European shares were lifted by a second day of good earnings reports. The Finnish mobile-phone maker gained 11.8 per cent to €1.53 after it reported an adjusted loss per share of €0.08, not as bad as the €0.09 expected. The company has not burnt through as much cash as investors had feared - net cash at the end of the second quarter was €4.2bn, compared with the predicted €3.7bn. The Eurofirst benchmark index gained 0.7 per cent to 1,061.52 in morning trade. The index is on track for a seventh straight week of gains on a good start for the second-quarter earnings season. Frankfurt's Dax gained 1.1 per cent to 6,754.73, the CAC 40 advanced 0.6 per cent to 3,254.12 in Paris and the FTSE MIB gained 0.6 per cent to 13,670.22 in Milan. Akzo Nobel, the largest maker of paint, advanced 5.1 per cent to €42.59, after good results and KBC Securities upgraded it to "accumulate." Electrolux advanced 5.7 per cent to SKr152.90 in Stockholm after the results of the maker of Zanussi dishwashers were helped by demand from emerging markets. It stood by an outlook for flat or slightly lower demand in Europe this year. Official data showing that exports of Swiss watches rose 13.7 per cent, year on year in real terms, helped the maker of Cartier timepieces Richemont gain 4.2 per cent to SFr54.50 and Swatch advance 3 per cent to SFr375.9. Skanska, a Nordic builder whose largest market is the US, fell 4.5 per cent to SKr102.80 after announcing a larger drop than expected in profits.