01.02.2011

Very strong macro data from the United States pushed markets higher. Oil prices
are above 100 US Dollars, helping oil related stocks in Oslo exchange. Stockholm went against the flow with Swedish Krona touching 10-year highs and engineering companies going lower.

The main culprit for that downward momentum was a weaker than expected report from SKF. The company reported a hair above 2 billion Kronor profit before taxes. The company is also predicting lower volumes on Q1 2011 in comparison to Q4 2010. Raw material costs are pressing the company which is not unusual at the moment and it seems SKF may be unable to move all of those costs into prices.SKF was down full 7.5 percent today.

Biotie Therapies extraordinary general meeting unanimously agreed the acquisition of Synosia Therapeutics by issuing new shares amounting to a slight majority in the new company. The meeting had around 35 percent of shares present and since around 30 percent had already committed to a yes vote before the meeting, there was never any doubt.

The National Institute for Health and Welfare of Finland admitted for the first time that children who have taken Pandemrix vaccination are at a risk of developing narcolepsy. The parents of those children who have fallen ill are considering legal proceedings against the officials.

Norway Pelagic ASA and Austevoll Seafood ASA have a preliminary agreement to integrate their pelagic businesses into Norway Pelagic subsidiary Norway Pelagic AS. In exchange Norway Pelagic would issue more shares to Austevoll Seafood. Austevoll Seafood would then own around 43 percent of the shares in Norway Pelagic. When Austevoll Seafood acquired stocks in Norway Pelagic last
summer, it exceeded the mandatory offer threshold but made it clear it would sell the amount to get below that magic number. The restructuring in the sector is in full flight.

Aker Drilling secured the 900 million USD loan facility. Newspaper Oskarshamns-Tidningen is reporting that Scania is planning to build a new factory in Oskarshamn. Ahlstrom surprised markets with a hefty dividend despite posting red figures for last quarter of 2010. The operating profit excluding non-recurring items and net cash flow from operating activities were in positive territory though. Company expects around 100 million Euro profit for 2011.

Tecnotree has fired Atul Chopra from the Board of Directors and from his operative duties as COO and President effective immediately. The company cites lack of confidence, disturbance of the group's business and an unspecified claim presented to the company on Atul Chopra’s initiative for the Lifetree acquisition in 2009 to be considered invalid as reasons for dismissal. Tecnotree has initiated legal actions. Tecnotree plummeted over 11 percent in today's trading. Investors are reminded of the risks associated with old leadership continuing operations of an acquired company uninhibitedly.