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NORDIC STOCKS - Factors to watch on Oct 12
October 12, 2016 / 6:46 AM / a year ago

NORDIC STOCKS - Factors to watch on Oct 12

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

ERICSSON

The Swedish telecom equipment maker warned on Wednesday that its third-quarter profit would be “significantly lower” than expected after a downturn in its mobile broadband business had accelerated.

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PETROLEUM GEO-SERVICES

The Norwegian provider of seismic data to the oil industry reported better-than-expected preliminary revenues and core earnings for the third quarter, and said so-called multiclient sales were the main contributor to the strong performance.

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PANDORA

The Danish jewellery maker said it is now online in China on Alibaba’s business-to-consumer platform Tmall.com, and will launch its own Chinese online store in December.

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SR-BANK, GJENSIDIGE

Norwegian insurer Gjensidige has sold a 5.7 percent stake in SR-Bank at 46 Norwegian crowns per share and now owns 4.8 percent of the bank. The shares closed at 47.4 crowns on Tuesday.

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DANSKE BANK

Moody’s said it had upgraded the long-term deposit ratings of Denmark’s biggest lender to A1 from A2, and the long-term deposit note/CD program rating to (P)A1 from (P)A2, and lifted the ratings outlook to positive from stable.

The standalone baseline credit assessment was affirmed at baa1, it added.

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TOMRA

The Norwegian maker of recycling and sorting technology announced plans to buy New Zealand sorting machines maker Compac Holding in a deal worth up to NZD 300 million ($214.74 million), of which NZD 70 million will be paid initially and the remaining price will be linked to future earnings.

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Reporting by Copenhagen, Oslo, Helsinki and Stockholm newsrooms $1 = 1.3970 New Zealand dollars

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