Nordic exchanges took a breather after a great start to September. Swedish financial authority Finansinspektionen is placing some of the blame for the fall of HQ bank on the company’s auditors. Norwegian seafood exports continued to grow well in late summer. German investor confidence slumped into negative in September. This indicator is not particularly useful IMO. Gold hit another all-time record in nominal terms. It has been working as an insecurity hedge of sorts, quite unlike its historic pricing behaviour. Both the Japanese Yen and Chinese Yuan were also at historic levels.
Nokia world product launches were unsurprising and markets were rather disappointed. Geely is eager to hike domestic production and increase sales for Volvo in China. Finnair plans to increase traffic to Asia by 20% next winter. According to a Bloomberg report, Russia’s Deputy Industry and Trade Minister Stanislav Naumov said the country is contemplating price ceilings for basic foodstuffs as the country is coping with the aftermath of the worst drought in ages. This is the business risk certain Nordic exchanges listed firms have to wager in their calculations for investing in the sector in Russia. Other than that many of the food and beverage ingredient raw materials may be topping out.
Hainan Airlines is considering a purchase of Air Baltic according to Latvian TV3. Having taken a Hainan airlines flight that left me stranded on the airport for a night without any crew to handle the issue and as a result of their failure having had the continuation flight and return ticket cancelled and the continuation airport having been unable to verify for further ticket from China as all Hainan airlines personnel were already off and only managing to complete a trip due to courtesy of the other airliner, albeit after a three day wait without money for food, there is not a worse airliner available in China. Naturally feedback went unanswered to further the surreal experience. Hence it should be a perfect match.
Just a day after showing interest in joining the board of Amagerbanken, the new major shareholder Karsten Ree said to TV2 he regrets his investment and wants a do-over. Price fluctuations were rampant and heavy buying action right before the close brought the stock back from a large minus to up nearly 10%. Aker Seafoods received a claim from Glitnir bank for payment of 99 million NOK. This relates to a swap agreement termination in 2008. Aker Seafoods dismisses the claim. While we are at it, someone should look into closing auction of the company’s stock, for every single day for at least couple of months, several stocks (under 10) come instantly on offer several percentage points off the last trade. This is not particularly exclusive to this company in Norway in the wake of the removal of the minimum units of trade in Oslo exchange.
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