Nordic shares close lower, led by Rautaruukki, SSAB; Nokia supports UPDATE

HELSINKI (Thomson Financial) - Nordic shares, battered in recent weeks by concerns about the pace of the global economic slowdown, continued to decline Thursday, with steel groups Rautaruukki Oyj and SSAB AB falling sharply. Rautaruukki dropped 8.63 percent to close at 24.78 euros, while SSAB slid 6.20 percent to 166.50 Swedish crowns to help drag the region's VINX Benchmark index 0.33 percent lower to 93.02 points. The index has fallen sharply since its spring peak of over 110 in mid-May. Angst at sluggish demand for specialty steel from the construction industry and rising iron ore prices were driving the sell-off, traders said. Nokia, the Nordics' most traded stock, provided some relief following a late rally. The share finished the session 3.99 percent firmer at 15.65 euros, having fallen back from over 18 euros a month... [read full story]