Nordic Markets traded very unevenly today but eked out a plus on the aggregate. Nobel Ceremonies were held today in Norway and Sweden. U.S. trade gap fell to 38.7 billion USD in October from 44.6 billion in September. China’s surplus in November was 22.9 billion USD, down from 27.2 billion USD in October but up 35% year on year. China’s imports were at an all time high in November. In a quick move China again hiked banks reserve ratio as also apartment prices kept rising.
China is planning to import more corn. One step toward that end was taken today as Japanese agriculture ministry and Chinese government run China National Agricultural Development Group Corp struck a deal for China to import among other things rice and vegetables the Japan Times reports. Japanese agricultural exports to China had been on halt for several years following tighter quarantines regulation.
EpiCept kept pushing higher as the company further highlighted the main reason behind the massive gain yesterday, Ceplene posters at ASH meeting a few days ago, with a release stating that results of a new analysis support Ceplene's favourable impact on overall survival and show activity with interleukin-2.
STX Finland & and United Shipbuilding Corporation from Russia have formed a joint venture called Arctech Helsinki Shipyard Oy, which is to specialize in arctic shipbuilding technology (mainly icebreakers required in the development of Russia’s arctic shelf). Via the arrangement, United Shipbuilding Corporation will gain a 50% ownership in Hietalahti Shipyard. The companies state that the new company will unify Russian and Finnish Maritime clusters.
The hopes of progress in Cancun climate talks are lessening. Japan seems intent on opting out rather than signing into the second commitment period of the Kyoto Protocol in the hopes of striking a more extensive deal, US is not budging and developing countries do not want to make any commitments without getting technology transfers in exchange.
Bionor Pharma is selling the Nutrilett trademarks to Axellus (a part of the Orkla Brands). Previously Axellus had a long standing license agreement for the brand with Bionor Pharma (formerly Nutri Pharma). The purchase price is 110 million NOK. Bionor Pharma lists focusing on the vaccine business as the reason behind the planned divestment. Bionor’s stock gained 17% more value today. CapMan Plc’s funds are selling their shareholdings in medical supplies company OneMed Group (subject to competition authorities approval) for around 13 million Euro to 3i (FTSE 100 listed private equity firm).
Novo Nordisk and Vestas Wind gained considerably in Copenhagen on positive news, pushing OMXC20 up more than 2% for the day. Lundin Mining was down on suspension of Full-Scale Pit Operations at Aguablanca Pending Review and somewhat disappointing 2011 guidance.
Fiskars will write down the entire goodwill of the Silva business resulting in an 11.3 million impairment charge on Q4. Gjensidige Forsikring was down slightly on its first day in Oslo exchange. Q-Free ASA won a 17 million NOK order for tags from the Roads and Traffic Authority of Australia.
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