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UPDATE 1-NORDIC STOCKS - Factors to watch on March 14
March 14, 2012 / 6:58 AM / 6 years ago

UPDATE 1-NORDIC STOCKS - Factors to watch on March 14

(Adds Novo Nordisk)

STOCKHOLM, March 14 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Wednesday:

NOVO NORDISK

The Danish insulin producer is planning to grow its biopharmaceuticals businesses including growth hormone treatments and hemophilia treatments, daily Jyllands-Posten said. The two business areas are a significantly more profitable than the key insulin business, Jyllands-Posten said.

An IT subsidiary of Novo Nordisk, NNIT, could be sold off in the future, after the proportion of its sales of services to other companies than Novo is getting close to 50 percent of total sales, business daily Borsen said. The company’s total sales reached 1.8 billion Danish crowns ($317.37 million) in 2011, Borsen said.

For more on the company, double click on

SEB

Banking group SEB has overtaken Nordea and is now the third biggest player in the Swedish mortgage lending market after having increased its lending portfolio by 49 billion Swedish crowns ($7.24 billion) last year to 346 billion.

At the same time, Swedbank has scaled back its new mortgage lending but remains the biggest player, business daily Dagens Industri reported. Handelsbanken remains the number two in the market, it added.

For more on SEB, double click

NORDEA, SEB

The two Nordic banks both have lent money to crisis-hit Danish shipping group Torm, which is struggling to repay $1.87 billion in debts, Dagens Industri reported without disclosing its sources. The banks declined to comment to the newspaper, which did not say how big the debts were.

For more on Nordea, double click

For more on Torm, double click

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(Additional reporting by Copenhagen, Oslo and Helsinki newsrooms)

($1 = 6.8106 Swedish crowns)

$1 = 5.6716 Danish crowns Reporting by Niklas Pollard

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