Cyclical shares led the way forward for the second day in a row. Nordic markets finished up nearly 2%. Pending home sales figures from the United States were much better than expected, renewing some hopes that maybe the housing market might start to mend. Oil related stocks were going up heavily in Oslo stock exchange as the price of oil is nearing 90 dollars.
The European Central Bank kept interest rates unchanged. The ECB president Jean-Claude Trichet did not mention increasing ECB bond buying, which had been rumoured prior to the meeting, but said that the Securities Market Program is ongoing. A consensus that ECB has been much more active in bond buying via the SMP framework the past few days seems to have arisen according to Reuters news agency.
Skanska has been selected to construct Brent Civic Centre in London. The contract is worth 85 million GBP. Konecranes received an order from Abu Dhabi ports company. The value of the order is more than 80 million Euro. Scana Industrier ASA received Semisub platform contracts from LKAB in Sweden and from South Korea worth 30 million NOK and a contract for forgings for
propeller shaft lines from Wärtsilä.
Rautaruukki reiterated its newly found strategy of fast growth in emerging markets and kept guidance intact at Rautaruukki capital markets day. Parken Sport & Entertainment had an up and down day as rumours surfaced that Abramovich family might be interested to invest in either the company directly or in FC Copenhagen. Most of the gains were wiped out after spokesman to Roman Abramovich denied the rumours to Tipsbladet. Eniro gained considerably after news that a loan agreement with lending banks concerning extension of loans of about 5 billion SEK was reached.
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