This time the admission was not so slow: Ireland is asking for a bailout. Finland could be in tap for a billion Euros and the non-Euro member Sweden is considering loaning more than a billion. Euro fluctuated from plus to minus all day and the swings were pretty wide. Nordic markets closed down half a per cent.
Hennes & Mauritz (H&M) is preparing to open its first shop in Southeast Asia. Plans are laid out for an opening of a shop in Singapore in late 2011. Vestas wind haemorrhaged over 5% of its value after announcing a disappointing margin outlook for 2011. FLSmidth continued its strong momentum with another 4.5% gain. TTS Group advanced 5% on a 76 million USD contract from Dalian based DSIC Offshore.
Elektrobit has sued its customer TerreStar corporation for 25.8 million USD. On 26.10.2010 Elektrobit became aware of Terrestar Networks entering chapter 11 proceedings. Currently, TerreStar is not part of the reorganization proceedings initiated by TerreStar Networks, but TerreStar is contemplating filing its own petition.
It was a red day at least for an outside observer in Nordic biotech sector as Karo Bio announced terms for rights issue of 325 million SEK and Biotie tapped into Yorkville credit line. Pulp & Paper sector companies suffered as well, mainly from analysts lowered recommendations.
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