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UPDATE 1-NORDIC STOCKS - Factors to watch on Sept 13
September 13, 2012 / 7:00 AM / 5 years ago

UPDATE 1-NORDIC STOCKS - Factors to watch on Sept 13

(Adds SEB factor)

HELSINKI, Sept 13 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

SEB

The Swedish bank will focus more on profitability and optimising its capital position after having focused on strengthening the bank’s buffers during the financial crisis, its Chief Financial Officer Jan Erik Back said in an interview with news agency Direkt.

Back said return on equity should be around 13 percent as a first step, given the current economic situation.

He also said the bank did not expect any big changes in credit loss levels over the coming quarters.

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CARLSBERG

The head of Danish brewer Carlsberg said that 2013 would be a challenging year in the company’s West European markets, but not worse than 2012. Chief Executive Jorgen Buhl Rasmussen’s remarks came at the start of presentations to investors at Carlsberg’s annual Capital Markets Day, which this year is held in St. Petersburg, Russia.

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METSA BOARD

The Finnish paperboard maker is delivering healthy product volumes this quarter and expects stronger growth ahead as its shift from paper to more profitable consumer packaging helps it weather Europe’s debt crisis, the chief executive said.

“Order inflows have normalised, operating rates are good, deliveries are developing well as planned,” Mikko Helander told the Reuters Forest Forum on Wednesday.

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WARTSILA

HSBC raised its price target on Wartsila to 30 euros from 28 euros.

PGS

The Norwegian seismic surveyor said its order book had declined slightly over the summer but the firm was close to clinching further orders and 95 percent of its 3D capacity was booked for the fourth quarter at prices on par with the third quarter.

PGS, which scans the ocean floor for hydrocarbon deposits, said on Thursday that its order book had fallen to $623 million by the end of August from $689 million at the end of June but deals for $240 million were “about to be signed.”

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Additional reporting by Copenhagen, Oslo and Stockholm newsrooms Reporting by Helsinki Newsroom

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