The trend continues upward in the Nordic markets in another day of a lot of results coming in. Chinese GDP was up 9.6% year on year on Q3. Russia is planning a major privitazation beginning in 2012.
Nokia reported a better than expected result. It will also start a new round of personnell cuts. Earnings per share were abose all estimates at 0.14 a share. Eventhough that is still a very low level historically, the stock price recovered as the company has been beaten down for months. The new CEO was confident in his presentation to the media. The company reported some component shortages.
Outokumpu blamed seasonal factors for the loss on Q3. It expects Q4 to be markedly better and the result to come in close to 0. The company is investing heavily in Tornio and waging a big bet on global economic recovery. Huhtamäki shows continuous improvement, good cash flow and volume growth but it did not quite reach expectations. Trainer’s House shows none of the above and continues its miserable losing spree. Westend ICT on the other hand posted a lofty profit of 0.0008 Euro per share.
Fortum’s result was also better than expected. Fortum has decided to advance its Russian assets faster. The company expects further gains from the sale of Fingrid, their CEO told newspaper Kauppalehti. Konecranes reported a 32 million Euro Q3 result, over 20% better than expected. Lure maker Rapala posted a new quarterly record sales number. The company will continue to buy back own shares from the market. As the company has a lot of sales in the North America as well, the strength of the Euro means some currency
Swedbank reported an operating result of 3.236 million Kronor, way above estimates. The credit losses were less than expected. Dagens Industri runs a story on how good Cevian’s purchase into Swedbank looks like right now. Mining and smelting company Boliden earned 1.264 million SEK and rose 7.5% on heavy volume. Kinnevik reported that a stronger economic cycle is evident in all of its holdings. Vehicle industry manufacturer Haldex reported earnings of 125 million SEK. Uniflex reported a result of 26 million SEK.
Norwegian Air Shuttle result came in at 733 million NOK, a 25% improvement. Clavis Pharma loss widened whereas Precise Biometrics halved its loss. Klövens sees continuous improvement in the rental and property market. Eltek ASA EBITDA for Q3 was 624 million NOK.
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