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NORDIC STOCKS - Factors to watch on July 17
July 17, 2013 / 4:52 AM / 4 years ago

NORDIC STOCKS - Factors to watch on July 17

(Updates with Millicom results, Electrolux deliveries)

HELSINKI, July 17 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Wednesday:

HANDELSBANKEN

The Swedish posted a second-quarter profit that beat expectations as core income topped forecasts and loan losses came in lower than expected. Operating profits reached 4.72 billion crowns ($714 million), topping a mean forecast for 4.45 billion seen in a Reuters poll of analysts and compared with 4.41 billion in the year-earlier period.

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NORDEA

The Nordic region’s biggest bank reported in-line second-quarter profits and said it expected an approval of its advanced internal models for its corporate loan book to be delayed a few months.

Operating profit for the period was 1.05 billion euros ($1.38 billion) compared with a mean forecast for 1.04 billion seen in a Reuters poll and a year-ago 1.08 billion.

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TELIASONERA

Telecom operator TeliaSonera reported second-quarter profit roughly in line with expectations as cost cuts and growth in emerging markets offset competitive pressure in the Nordic region.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA), excluding non-recurring items, were 8.9 billion Swedish crowns ($1.35 billion) versus the average forecast of 8.8 billion in a Reuters poll and last year’s 9.0 billion.

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ELECTROLUX

Deliveries of the six main white goods categories in the United States (AHAM 6) rose 9.2 percent year-on-year in June, figures from the Association of Home Appliances Manufacturers showed late on Tuesday. Shipments are up in 7.7 percent over the first six months of the year.

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LUNDBECK

An experimental drug to treat Alzheimer’s disease proved effective in improving cognitive performance in a mid-stage study, Danish pharmaceutical group Lundbeck, one of the drug’s two developers, said late on Tuesday.

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MILLICOM

The emerging markets telecom operator reported quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) of $463 million, slightly below the market’s consensus forecast for $470 million.

Its quarterly sales totalled $1.26 billion, in line with market expecations.

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BOLIDEN

The mining and smelting group is seen posting a 92 percent fall in second-quarter operating earnings to 61.4 million Swedish crowns ($9.33 million), according to a Reuters poll of analysts. The report is due at around 1000 GMT.

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Additional reporting by Copenhagen, Oslo and Stockholm newsrooms $1 = 0.7612 euros $1 = 6.5815 Swedish crowns Reporting by Helsinki Newsroom

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