On the Helsinki Stock Exchange, Nokia shares rose 1.1% as of Thursday afternoon, while the European technology index, sx8p, fell 2.1%.
BrokerMirabaud SecuritiesTraders said Bloomberg reports supported the stock, possibly triggering short covering.
Citing people familiar with the matter, Bloomberg reported that Nokia was considering strategic options and was working with consultants to consider potential asset sales and mergers. But the report gave no further details.
But a source close to Nokia said the report was not true. Nokia declined to comment on the news.
Nokia's technology division, which manages a broad patent portfolio, reported a 3% increase in operating profit in 2019 from 1.24 billion euros ($1.35 billion) a year earlier, while sales fell 1% to 1.49 billion euros.