Some strong earnings from the USA boosted early trading in Nordic markets. Triple witching required for some knockdowns. After disappointing consumer confidence data from the other side of the Atlantic, European indexes turned sharply red for a while. Nordic indexes were outperforming the market for the entire day and ended the day mostly up.
ArcelorMittal upgrade for third quarter guidance boosted steel stocks. FLSmidth bought majority ownership in South-African company Roymec. It will open other doors for the company there as well.
Neurosearch continues its downward spiral. The earlier handling of Huntexil data analysis and presentation would have most likely already earned the company a class action lawsuit in some parts of the world. Nearosearch is looking for a partner for a weight loss drug called Tesofensine. After two high profile bombs dropped by the FDA in the space (FDA vote against the approval of Vivus Qnexa a little while ago and negative advisory panel vote yesterday against Lorcaserin of Arena), the odds of Neurosearch landing a partner for Tesofensine appear *cough*slimmer.
Greentech followed up an interesting day with some more headlines. The company has had ties to Vito Nicastri, Italian wind energy investor now under scrutiny for believed ties to Mafia, as admitted by the company chairman Kay Andrews to Berlingske Business today. Cermaq ASA quickly divested all 43% of shares of Marine Farms to Morpol. Cermaq got a nice quick profit for its troubles. Later on Morpo communicated it already controls over 90% of the company and will launch a mandatory cash offer for the remainder.
SAS has a new president and CEO. Rickard Gustafsson has previously been working in Codan/Trygg-Hansa insurance company. SAS has also decided to sell its portion of Estonian Air to Estonian goverment. Lundin Petroleum announced a major oil discovery in the Norwegian waters. It is among the biggest oil discoveries in Norwegian coastline within the last decade and it is estimated it may contain 100-400 million barrels of oil. The stock advanced around 20% on the news.
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