The pullback continues in Nordic markets. Light sweed crude futures contracts touched 100 USD while Brent Oil was trading above 110 USD per barrell for April delivery. Airliners and companies using oil based inputs were particularly strongly under pressure.
The A.P. Moller – Maersk Group made a record profit of 5 billion USD for 2010. The group aims to expand business while maintaining high profitability in 2011 albeit the profit forecast is below 2010 level. Increased container rates and volumes together with reduced costs contributed to the result. A.P. Moller – Maersk showed strenght and was nearly unchanged in a down day.
Subsea 7 reports are quite a clutter for now as "old Subsea 7" and Acergy numbers need be considered. Both companies delivered strong operational performance and the new Subsea 7 was up around 2% today. Husqvarna was still in the red to close 2010 but says sales are improving in 2011 so far.
Austevoll Seafood and Lerøy Seafood both reported positive developments in Q4. Austevoll Seafood said the situation in Peru is returning to normalcy. Worries increase over Aarhus Lokalbank's future. ALK Abello was down after some grilling over Grazax status in the conference call.
Scana Industrier ASA reported results after market close. The company had an operating loss of 28 million NOK for Q4 and no dividend payment is suggested. Higher order inflow is expected to have a positive impact on earnings in 2011. Lundin Mining results were also due after market close in Canada but as of this hour aren't yet posted.
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