October 23, 2013 / 4:53 AM / 4 years ago

NORDIC STOCKS - Factors to watch on Oct 23

(Updates Hexagon, Chr. Hansen, Rautaruuki, Telenor, TGS-Nopec)

COPENHAGEN, Oct 23 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Wednesday:


Billionaire investor Daniel Loeb has taken a position in Nokia, saying the Finnish communications and technology company is currently inexpensive and is poised to return a lot of cash to investors.

Loeb disclosed the stake in his Third Quarter Investor Letter, which was seen by Reuters. News of Loeb’s buy sent Nokia shares up 2.8 percent in New York on Tuesday.


The Nordic region’s biggest bank by value posted a rise in third-quarter profit that was roughly in line with market expectations, and said its credit quality continued to improve.

Operating profit for the period was 1.02 billion euros ($1.4 billion) compared with a mean forecast for 1.05 billion seen in a Reuters poll of analysts and a year-ago 910 million .

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The Swedish bank posted a slightly bigger than expected rise in third-quarter operating profit as commission income and loan losses came in better than forecast. Operating profits reached 4.57 billion crowns ($717.26 million) versus a mean forecast for 4.53 billion seen in a Reuters poll of analysts.

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The Norwegian oil firm’s gas output will be cut by 24.7 million cubic metres (mcm) per day on Wednesday due to unexpected outage, the company said on its website late Tuesday.


The Norwegian aluminium maker said its July-September core earnings rose more than expected thanks to solid performance at its primary aluminium and power production divisions.

The Norwegian firm’s underlying operating profit came in at 659 million Norwegian crowns against expectations for 306 million crowns on average in a Reuters poll.


The measurement technology firm is to issue its third-quarter report at 0600 GMT. Operating earnings, excluding non-recurring items, are expected to rise 2.6 percent to 119 million euros ($162.7 million), a Reuters poll showed.

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The Swedish truck maker, controlled by Volkswagen , publishes results at around 0730 GMT. Third-quarter operating income is seen rising 7.8 percent to 2.03 billion Swedish crowns ($317 million), according to a Reuters poll of analysts.

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Finnish IT services provider Tieto reported a quarterly underlying profit of 38 million euros, up 1 percent from a year earlier, beating expectations thanks to cost cuts.


The world’s biggest fish farmer delivered third-quarter earnings in line with previous guidance on Wednesday, while the company lifted its production forecast for 2013 and 2014.


The Finnish utility reported a weaker-than-expected underlying third quarter profit, blaming low hydro power production. Quarterly comparable operating profit fell 26 percent to 166 million euros ($229 million), compared to the market’s expectations for a 11 percent rise to 247 million euros in a Reuters poll.


The Finnish steelmaker reported a bigger-than-expected fall in third-quarter sales on Wednesday while order intake slid 11 percent, underscoring weak steel demand and prices.

Rautaruukki said comparable sales fell to 592 million euros ($815.39 million) from year-ago 624 million to come in below the mean forecast of 616 million in a Reuters poll of analysts.


The Danish food ingredients maker posted a bigger-than-expected rise in fourth quarter operating profit, aided by sales growth in all of its three business units, and said it expected a steady profit margin in the year ahead.

Earnings before interest and tax (EBIT) rose to 59.5 million euros ($82 mln) in the three months to end-August from 50.3 million euros a year earlier, to come in just above a forecast for 58.7 million euros in a Reuters poll.  For more on the company, click on


The Norwegian telecoms group said on Wednesday it has agreed to acquire Tele2’s fiber and cable television business in Sweden for a total of 775 million Swedish crowns ($122 million).


The Swedish Measurement technology group posted a rise in third-quarter core earnings in line with expectations on Wednesday and said demand in Europe had improved.


The Norwegian seismic surveyor reported third-quarter profits that were slightly ahead of market expectations and repeated its recently lowered outlook for 2013 revenues.

($1 = 0.7312 euros) ($1 = 6.4021 Swedish crowns)

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