Continuing betting on sovereign debt crisis did not deter Nordic exchanges gaining considerable ground today. Most of the indexes in Europe started the day considerably lower but ended with nice plusses after some predictable action...
There were quite a few insider purchases from multiple companies in the Nordic exchanges today, something that has not been the norm worldwide as of late with much more insider selling having been taking place. Some M/A rumours are abound; Unibet gained ground on Sunday Times speculation that Unibet may merge with Sportingbet and additionally Der Spiegel and Financial Times were speculating that Volkswagen may seek to integrate Scania and MAN (Volkswagen has a considerable stake in both). There is a lot if history between Scania and MAN as the latter attempted a hostile takeover of the former a few years ago. This time the speculation is that with the aid of VW, the roles of who is buying who would be reversed. Any deal involving Scania and MAN would face considerably antitrust issues.
Securitas gained over 5% after releasing its Q3 report, where the company stated that the security solutions market has started to recover albeit slowly and unevenly. The before tax profit of 820 million SEK undoubtedly did play a part in the reaction. Neste Oil has started the world’s largest renewable diesel plant in Singapore on time and on budget.
Finnish government investment arm Solidium selling a large chunk of its Sponda holdings tomorrow according to YLE (19% of Sponda’s total stocks; after the sale Solidium will hold little more than 15% of Sponda’s stocks). This will be the largest sale of Solidium to date. Fittingly Sponda has been on an uptrend since July when the Supreme Administrative Court ruled in favour of Sponda concerning deductibility of confirmed losses.
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