Surprisingly large drop in new applicants for unemployment benefits in the US released the bulls from their barn. Tough four year austerity measures announced in Ireland, which will among other things lower the minimum wage, and plans of austerity in Portugal did not hurt market sentiment. Someone might say this has been the most elaborate scheme for gains in the ”who can debase their currency the quickest”- game, as Euro is now at 1.33 USD. Russia and EU struck a deal to phase out Russian export tariffs, which will pave the way for Russia to join TWO according to Reuters report. Also a couple of cargo shipments containing REE minerals appear to be on their way to Japan from China. Nordic markets posted pretty much their additive inverse compared to yesterday.
Nokia’s new CEO Stephen Elop made his first big hire. The hire for Chief Marketing Officer is Jerri DeVard. She has been heading her own firm where she has councelled among others Microsoft, from which Elop joined Nokia earlier this autumn. Mrs. DeVard has also worked at Verizon and considering operator relations in the US have been an achilles heel for Nokia, one feels the new management is working toward closer ties. Nokia ended the day relatively unchanged.
KappAhl traded ex-dividend today, hence the negative headline number. Kungsleden divested six commercial properties in Ludvika for 809 million SEK. Amagerbanken continued recent run upwards with a 16% gain. Frontline’s Q3 EBITDA came in at USD 102 million and said that weakness showed in Q3 will continue in Q4. The stock shed nearly 4%.This was however pale in comparison to Faktor Eiendom’s 17% drop after the company reported nearly 50 million NOK loss. Karo Bio gained back some ground when the company CEO Fredrik Lindgren spoke in Avanza Bank & Redeyes Börsdagar and said that the company expects to file for approval of eprotirome for Heterozygous familial hypercholesterolemia at the end of 2013 or early 2014 and expects several hundred million market.
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