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Shares of



dipped on world markets after

UBS Warburg

removed the mobile phone giant from its list of top-10 global technology stock picks.

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Shares of Nolia touched a two-year low on the European market after the move by UBS analyst Pip Coburn.

No further details of Coburn's action were immediately available.

Nokia shares were down $1.14, or 3.8%, to $28.88, in pre-market trading on


. They closed at $30.02 on Thursday trading on the

New York Stock Exchange

. They have a 52-week range of $27.63 to $62.50.