Nordic markets closed the week on a high. Only Danish exchange was lagging behind due to the giants of the index underperforming. German Ifo-index reached an all time high. Good earnings reports from global giants helped as well. Russia plans to purchase Eurozone debt as well. IEA officials joined chorus of voices telling OPEC to agree on more oil production.
Swedish opposition appears to be uniting to block the minority government’s privatization plan. The opposition’s bill would block sales in TeliaSonera, SBAB and completely in Vattenfall. The government would however be able to continue sales of Nordea and SAS.
Nokia has now pretty much recovered from the midweek slump. The recovery started yesterday, without any particular news other than another operator snub in the US. Somehow the seagulls felt that the black shadow under water was not a negative profit warning after all. Today there were some rumours about the chips of the upcoming N9 circling around. Newspaper Talouselämä dug up comments of Nokia from Nokia’s Conversations-blog that according to a new IResearch study Nokia’s Ovi Store is doing well in China.
Tele2 was up sharply as Administrative Court of Appeals approved Tele2’s claim for a deduction of a 13.3 billion SEK capital loss. Electrolux advanced on overall household goods delivery numbers from the USA. Husqvarna is recalling 600 Poulan Pro Generators in the US. The voluntary safety recall is due to issues with the carburetter.
Outotec is to deliver copper smelting technology and related services to RTB Bor. The contractor is SNC-Lavalin. The delivery is worth over 60 million Euro to Outotec. Scania landed an order for 158 busses. Investor Frode Teigen bought 12.7 million shares in Codfarmers and now owns a total of 33.7 million shares, corresponding to 22,53 percent of total shares.
AstraZeneca replied to the FDA Complete Response Letter for ticagrelor (BRILINTA) NDA ahead of schedule. Reuters ran a story on the major near term news concerning AstraZeneca’s cholesterol medicine Crestor.
The closing of the merger between Scanfil EMS and Ojala-Yhtymä is uncertain. Scanfil tells in a stock market release that Scanfil EMS Oy has received information from the Board of Ojala-Yhtymä Oy that the Board is unsatisfied to the signed merger agreement. Scanfil also gave preliminary information on turnover and operating profit of 2010, both of which compare relatively favourably to earlier worded guidance.
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