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NORDIC STOCKS - Factors to watch on Oct 20
October 20, 2015 / 6:03 AM / 2 years ago

NORDIC STOCKS - Factors to watch on Oct 20

The following stocks may be affected by newspaper reports and other factors on Tuesday:

OUTOKUMPU

Banks, brokerages and research firms have lifted their recommendations on the shares of the Finnish stainless steel maker following the announcement on Monday it would divest a stake in a Chinese joint venture to reduce debt.

Goldman Sachs raised its price target for the stock to 3.8 euros and repeated its “buy” rating while Exane BNP Paribas raised its recommendation to “neutral”, lifting its target price to 3.8 euros. Inderes Equity Research raised its target price to 3.7 euros, repeating an “increase” stance.

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ASSA ABLOY

The world’s biggest lock maker posted a rise in third-quarter operating profit that roughly matched expectations, helped by strong U.S. sales growth.

While the overall global economic trend remains weak, including stagnation in Europe and many emerging markets, the Swedish company’s strategy is still to expand its business in emerging markets, it added.

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TELIASONERA

The Swedish telecoms firm posted third-quarter core profit above market expectations and said it expected 2015 core profit slightly below the 2014 level on a like-for-like basis, hit by lower margins in Kazakhstan.

TeliaSonera’s previous outlook was for core earnings around the same level as last year.

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SWEDBANK

The Swedish bank reported a bigger than expected fall in third quarter net earnings on Tuesday as lower customer activity weighed on trading results.

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FLSMIDTH

The Danish engineering group has signed a five-year maintenance contract with Chilean copper producer Minera Dona Ines de Collahuasi for supply of maintenance services for their copper plant in Chile.

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NORWEGIAN AIR

The rapidly growing Norwegian budget airline may spin off a key subsidiary that owns its planes, and could end up owning less than 50 percent following an initial public offering, Chief Executive Bjoern Kjos told financial daily Finansavisen.

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Reporting by Copenhagen, Oslo, Helsinki and Stockholm newsrooms

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