Nordic stock continued to be under pressure despite decent macrodata from the EU area.Anticipation of existing home sales drop from the US was the reason for the drop in the morning and when the numbers came in piss poor, it was all validated.
Peab reported operating result of 591 Mkr on sales of 17203 Mkr. New orders increased by 9% --> new orders received during Q2 were a record high. The company expects a good construction cycle.
Alliance Oil reported significant revenue growth (531 Million USD in Q2, 501,1 MUSD in Q1 and 364.2 MUSD Q2 2009). It reported an EPS of 0.19 and 2010 production targets are kept firm. Car spare parts dealer Mekonomen reported an after tax profit of 107 million Swedish Kronor. Glass technology company Glaston finally managed to stop some of the bleeding.
Nokia and Intel will start a new research center in Oulu, Finland. software service company Solteq reported decreased sales and a lofty loss. The company said new CEO will start 20th of September. Another puzzling detail, in addition to the dismalresult is that the company has bought its own stocks right up until the report, which then naturally crashed the valuation.
Another company reporting earnings and changing CEO is Pricer. It however reported a positive result. Furthermore, STX Europe also announced a CEO switch.
Third largest Danish bank Jyske Bank reported second quarter result of 398 Million Danish Kronor before taxes. Goodtech reported 18.2 Million Kronor before taxes result. Eidesvik offshere on the other hand was 202 on the negative side. Education sector company AcadeMedia reported its last quarterly earnings as OMX Stockholm listed company (at least for now) and the report was decent.
Corn market decided to remember that US wheat outlook for this year is very positive and stocks are high. Stora Enso sold an industrial preal estate in Germany. Bergen Group was down with the overall market on light volume.
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