Financial Times says that S&P is about to have all AAA-rated Euro countries on negative creditwatch. Finland is among those precious few countries still enjoying low borrowing costs in the eurozone.
According to an article in the Wall Street Journal, Hennes & Mauritz is planning to forge ahead aggressively in China. H&M plans to move onto second tier and even smaller cities as the purchasing power of the rising middle cls in China increases. The article also talks about important nuances concerning H%M’s dealings in China.
Orkla ASA (OSE: ORK) notified in the after the trading session that it has sold its entire holding of 23 million shares in reverse vending machines firm Tomra Systems (OSE: TOM), representing 15.5% of the total share capital of Tomra, to Latour Investment AB (STO: LATO B). The price per share was 38.5 NOK. Tomra Systems closed at 40 NOK per share on Monday.
Financially troubled home decoration retailer Tiimari (HEL: TII1V)warned its Gallerix businesses’ revenue in Sweden was lower than forecasted in November and subsequently lowered Tiimari segments full-year EBITDA guidance from lower than last year to significantly lower than last year (and still obviously negative). Gallerix business unit has been the lone unit of the group posting positive results since Tiimari acquired it in 2007. Now it may post a loss for the year.
Swedish internet publication DagensHandel.se interviewed Gallerix’s CEO on Monday and he said that Tiimari has been gauging interest for the sale of the company. The CEO Dan Crewe said that synerge benefits in between the companies have proven smaller than expected. Selling right after the company posts a loss on the cheap would certainly be a logical continuation in Tiimari’s continued destruction of shareholder value.
Pandora (CPH: PNDORA) and D/S Norden (CPH:DNORD) will be replaced by AP Moller-Maersk A/S A-shares (CPH:MAERSK A) and Nordea ((OMX: NDA SEK) (OMXH: NDA1V) (OMX: NDA DKK)) in OMX Copenhagen 20 index (20 most traded companies in Copenhagen exchange) as a part of the semi-annual review on 19th of December. After that the index will be consisted of the following stocks: Carlsberg B, Chr. Hansen, Coloplast B, Danske Bank, DSV, FLSmidth, GN Store Nord, Lundbeck, Mærsk A, Mærsk B, NKT, Nordea, Novo Nordisk, Novozymes, Sydbank, TDC, Topdanmark, Tryg, Vestas and William Demant.
AstraZeneca (LSE: AZN, OMXS: AZN, NYSE: AZN) and UK’s Medical Research Council (MRC) have struck an agreement granting UK academics access to 22 compounds developed by AstraZeneca.
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