August 29, 2013 / 5:57 AM / 4 years ago

NORDIC STOCKS - Factors to watch on Aug 29

(Adds H&M news)

HELSINKI, Aug 29 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

STATOIL

According to several analysts, the Norwegian oil firm may have to writedown some of its $4.4 billion investments in the Bakken shale oil play in North Dakota due to lower-than-expected production, financial dailies Dagens Naeringsliv and Finansavisen reported on Thursday.

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H&M

The Swedish clothing chain said it had signed a contract to open its first store in South Africa. The store would open in 2015 at the earliest, it said.

Separately, Barclays has raised its recommendation on H&M's stock to "overweight" from "equal weight" and hiked its target price to 290 Swedish crowns ($44.55) from 240 crowns. H&M shares closed at 243.3 crowns on Wednesday.

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Additional reporting by Copenhagen, Oslo and Stockholm newsrooms

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