Nordic markets recovered a lot of lost ground in the afternoon session as consumer confidence data from the United States showed a large spike upward. The bloodsched in OPEC member Libya caused a large spike in volatility. Banking & finance sector did very well today aided by far better than expected quarterly accounts from Jyske Bank. UPM made a deal in Brazil and led a good day for pulp & paper sector stocks as well.
Frontline result was a little better than expected but markets were hoping for a larger payout. Alliance Oil did pretty much as expected. Hexagon Composites ASA scored an important contract to supply fuel tanks for compressed natural gas to a large European car manufacturer. Haldex returned to profit and advanced sharply.
Bloomberg and Wall Street Journal reported that TeliaSonera has made some sort of an indicative bid for Polish mobile operator Polkomtel. Eltek has been focusing on power electronics business. The business area experienced robust growth. Discontinuing operations were heavily on the minus. Nera Networks divestment was touted.
IGE Resources posted a large loss on book value of diamond portfolio impairnment on the entire Angola diamond project portfolio. The company has also decied as a result of withdrawal from Luxinge, South Africa as the diamond project turned out not to be commercially viable. The interim report on the website is in an even more difficult to read format as this text here. Rönnbäcken Pre-Feasibility study was initiated.
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