Nordic markets recovered some of the weeks losses in a day of constant upward momentum. Rosy growth forecasts from India, speculators taking profits and fleeing agricultural product futures, Chinese officials forecasting that inflation will be under control soon enough, US consumer optimism growing and the feeling that much of the Libya effect was priced in were given as reasons of optimism.
Aker's parent company Q4 numbers disappointed slightly. Petrolia ASA was down more heavily after reporting a large loss.Proposed merger of Lundin Mining and Inmet Mining Corporation got a positive recommendation from ISS Proxy Advisory Services. Now it is first up to shareholders and then naturally authorities should shareholders in both companies vote for the merger. Mekonomen deal for Sørensen og Balchen was approved.
Glaston managed to get medium-term financing in order albeit at a heavy cost for current shareholders. Even more importantly the business side of things needs fixing as well. Novacast Technologies AB has decided on a new share issue of 80-90 million SEK after making a loss of 13.8 million SEK in Q4. THe company needs cash to make it to that equity financing as a bridge as well. The company website still boasts a big AAA-rating credit worthiness tag.
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