Ericsson share price rises on rumours of radical cost-cutting

Shares in Ericsson opened sharply higher on the Stockholm stock exchange on rumours that it will present a radical new cost-cutting programme for its handsets division.

In early trading, Ericsson shares were up by 4.39% or 2.50 krona (that's 17p) at 59.50 krona (equivalent to £4.09).