Both Nordic exchanges that were open for trading today, Oslo and Copenhagen, started the day very strongly but lost the handle on majority of the gains in late session. Danish unemployment held steady at 4.2 percent in November. U.S. new jobless claims continued their downward trajectory.
Carlsberg was the only Nordic stock to make it to chief European equity strategist at S&P Robert Quinn’s list of his predictions for top European stocks for 2011. He said that exposure to Eastern European markets, especially to Russia, offers the company interesting long term growth prospects. Citigroup, which started coverage of Carlsberg today, on the other hand says that while it rates most of the European breweries ”buy”, Carlsberg receives a "hold"- recommendation due to concerns about Russia operations, where the banks feels that production costs are increasing at an alarming rate and negative surprises may follow. Carlsberg gained 1.2% today.
The combining of the companies following the merger of Acergy S.A. and Subsea 7 Inc. is expected to be completed tomorrow. The new company will be called Subsea 7 S.A and tomorrow will be the final day that the shares of Subsea 7 Inc will trade. Acergy agreed to purchase Subsea 7 in an all stock deal last summer, forming the largest seabed-to-surface engineering and construction firm in the world. The shares were up today.
Neurosearch was up Jyske bank mentioned its estimate regarding the approval likelyhood of Huntexil. Pandora and Novo Nordisk reached record heights. Norwegian's passenger numbers for December were better than expected and the stock eked a marginal gain.
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