Nordic markets eked out a nice plus on a broad based upward momentum in late trading. India’s central bank hiked short term and lending rates by 0.25 basis points, as was expected. Nordic Council meeting is being held in Iceland and the region’s foreign ministers will meet tomorrow. In true festivities spirit, pretty much all Nordic pavilions got some medals for outstanding design to wrap up Shanghai Expo 2010.
Danske Bank posted a 2.6 billion DKK profit for first nine months of 2010, right about doubling from 2009. Total revenue declined nearly a quarter from the same period of 2009. Meanwhile the bank’s expenses were down as well. The group’s 2009 trading returns were extraordinary. Impairment charges are on a downward trend for Danske Bank, even if still at en elevated level historically, which has been the story with most of the banks from the Nordic region this reporting season.
Statoil Fuel & Retail’s Q3 result before tax was 590 Million NOK. Sales increased nicely from last year. The group cited strong performance in Scandinavia as the main catalyst for improvement. The company grew road transportation fuel business by 6%.
Some results coming out tomorrow: Lundbeck, Marine Harvest, Lundin Petroleum, Latour, Meda, Coloplast, Statoil, Sanoma WSOY, Sampo
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