Nordic Stocks: AstraZeneca, Nokia, Sevan, Vestas Wind Systems
The Stoxx Nordic 30 Index, the benchmark measure for the region, slipped 1 percent to 6,900.16 at the 5:30 p.m. close in Stockholm, paring its 1.4 percent gain on Sept. 24.
The following companies’ shares were among the most active in Nordic markets today. Symbols are in parentheses.
AstraZeneca Plc (AZN SS) slipped 1.1 percent to 355.4 kronor, the tenth fall in eleven days. The drugmaker’s experimental cancer treatment zibotentan failed to help patients with a kind of prostate tumor live longer, missing the main goal of a study, the company said today in a statement.
Eik Banki P/F (EIK DC), the biggest lender on the Faroe Islands, slumped 41 percent to 37.9 kroner, the most in more than three years. The company may raise capital as the Danish Financial Services Authority investigates whether it needs to write down more debt.
Nokia Oyj (NOK1V FH), the world’s largest maker of mobile phones, slipped 2.6 percent to 7.27 euros, its fourth fall in five days. It was cut to “underperform” from “market perform” at Sanford Bernstein.
Sevan Marine ASA (SEVAN NO) jumped 2.3 percent to 6.02 kroner, ending a two-day decline. The Norwegian maker of equipment for the offshore oil and gas industry said its Sevan Driller rig is back in operation and defects in the riser tensioning systems had been rectified.
Storebrand ASA (STB NO), Norway’s largest publicly traded insurer, rose 1.5 percent to 35.53 kroner, its second gain. European life insurers could reap 25 billion euros ($34 billion) more in annual premiums by meeting the demands of underinsured consumers, according to Swiss Reinsurance Co.
Subsea 7 Inc. (SUB NO), the U.K. oil-services company that operates in the North Sea, rose 1.9 percent to 112.8 kroner, its third increase. It was awarded a four-year single contractor framework agreement with Shell Upstream International Europe for subsea pipeline installation services across its European offshore fields and facilities, according to a statement on the company’s website today. The contract has a further three one- year extension options.
Vestas Wind Systems A/S (VWS DC), the world’s largest maker of wind turbines, slipped 3.8 percent to 202.1 kroner, erasing the 3 percent rise on Sept. 24. The German government has scaled back its energy and climate change plan, scrapping provisions for some carbon dioxide emissions cuts and money for energy programs, Financial Times Deutschland reported.
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