HELSINKI, Finland (AP) -- Nokia Corp., the world's largest mobile phone maker, said Thursday that second-quarter earnings more than doubled to euro2.8 billion ($3.8 billion) on strong sales and that it had further increased its market share. Its shares rose 7 percent.

Net profit for the April-June period came to euro2.82 billion ($3.85 billion), up from euro1.14 billion in the second quarter last year, the Finnish company said. Sales rose 28 percent to euro12.6 billion ($17.22 billion) from euro9.8 billion in the year-ago period, Nokia said.

The company said it had increased its global market share to 38 percent from 34 percent in the same quarter in 2006 and from 36 percent in the first quarter. It sold 100 million mobile devices in the period, an increase of 29 percent on 2006.

Nokia's result beat expectations, with its shares surging 7 percent in Helsinki to euro22.05 ($30.13). Before the earnings

VIENNA, Austria (AP) -- Oil prices moved lower Thursday after a roller-coaster session the previous day during which prices hit a new intraday record, later tumbling.

The downward trend appeared linked to higher-than-expected refinery utilization, which eased worries of gasoline shortfalls during the high-demand summer driving season in the United States.

Light, sweet crude for September delivery lost 78 cents to $75.75 a barrel by noon in Europe in electronic trading on the New York Mercantile Exchange.

The contract fell $1.68 to settle at $76.53 a barrel Wednesday after rising as high as $78.77 earlier in the session -- surpassing the previous intraday record of $78.40, set in July 2006.

Prices initially climbed higher again Thursday after the U.S. Energy Department's Energy Information Administration reported that oil inventories fell by 6.5 million barrels last week, far more than the 690,000 barrel-decline analysts