Nordic stocks had a mixed day, mainly as Sweden and Finland were gapping up after having been closed for a holiday yesterday. Danish and Norwegian exchanges ended the day lower than yesterday. Eurozone unemployment held steady at 10.1% whereas unemployment in USA was down to 9.4% from 9.8%. The number of jobs added was less than markets had been hoping for though.
Nokia appears to be gaining publicity in the United States, as it made it to the list of most hated companies. Competitor Samsung posted a disappointing result, apparently mostly due to television business underperforming. Greenpeace communicated results of its third green electronics survey in which Greenpeace asked manufacturers to provide their greenest products and then it put them to a test. In mobile phones Sony Ericsson came in second while Nokia was second to last in a remarkable turnaround for a company that has traditionally been the darling of these studies. In smartphones Sony Ericsson Aspen (M1i) was judged to be most environmentally friendly followed by Nokia’s N8.
Pulp & Paper industry stocks continued recent push upward. Stora Enso and Arauco joint venture received environmental permit for a 1.3 million tonne pulp mill in Uruguay. The companies are yet to decide how to proceed with the investment. Finnair’s Asian traffic increased marginally and December traffic numbers were naturally down immensily due to the cabin crew strike.
PA Resources reported weaker than expected output growth during Q4. The future outlook is also rather uncertain. The stock sold off in both Stockholm and Oslo exchanges, shedding over a quarter of company value in one day.
Chinese prosecuting authority has decided to being charges against Vacon’s Chinese subsidiary and two of its employees for alleged act of smuggling. Endomines says it has taken several steps from exploration toward gold production, projecting to start commercial production at the Pampalo Gold Mine during Q1/2011.
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