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5 years ago
UPDATE 1-NORDIC STOCKS - Factors to watch on Mar 1
March 1, 2012 / 6:41 AM / 5 years ago

UPDATE 1-NORDIC STOCKS - Factors to watch on Mar 1

(Adds Teliasonera, NKT, Torm, Alm Brand and Gjensidige)

HELSINKI, Mar 1 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

Outokumpu

Shareholders are set to approve a 2.7 billion euro ($3.61 billion) buy of ThyssenKrupp's stainless steel business on Thursday. The shareholders' meeting is due to begin at 1000 GMT in Helsinki.

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Prosafe

Offshore accommodation rig provider Prosafe, based in Cyprus and listed in Oslo, reports fourth-quarter results on Thursday, with analysts expecting a sharp rise in operating profit to $57.3 million from $18.4 million a year ago.

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Teliasonera

Telia's Spanish daughter company Yoigo hopes to have 3.5 million subscribers by the end of this year, up from 3 million in 2011, daily Dagens Industri wrote on Thursday.

"The goal is to reach a 10 percent market share by 2015, compared to today's 5.5 percent, the paper quoted Yoigo CEO Johan Andsjo saying.

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NKT Holding

The Danish industrial group is expected to see its operational EBIT nearly tripling in the fourth quarter compared with the same quarter a year earlier, according to a Reuters survey of analysts.

Operational earnings before interest and tax (EBIT) were seen rising on average to 146 million Danish crowns ($26.30 million) in the October-December quarter, from 52 million crowns in the fourth quarter the year before.

The group is expected to report its results on Thursday at 0700 GMT.

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Torm

The Danish shipping group, which is in talks with its banks to delay repayment of $1.8 billion in debt, is expected to post deepening losses for the fourth quarter, according to a Reuters survey of analysts.

Fourth-quarter pretax losses were seen on average growing to $107 million from $87.7 million in the corresponding period a year earlier. Pretax loss estimates ranged from $95 million to $121 million. The group is expected to report its results and to give an update on talks with its lenders on Thursday before 8000 GMT.

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Alm Brand, Gjensidige

Norway's biggest insurer Gjensidige could be interested in acquiring its Danish peer, business daily Borsen said.

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Additional reporting by Copenhagen, Oslo and Stockholm newsrooms $1 = 0.7476 euros $1 = 5.5577 Danish crowns Helsinki Newsroom

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