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Nordic Stocks Decline; DNO, SEB, Nordea, Stonesoft, Yara Shares Move

The Stoxx Nordic 30 Index, the benchmark measure for the region, slipped 1.1 percent to 6,814.42 at 2:33 p.m. in Stockholm, its second loss.

The OMX Stockholm 30 Index fell 1.1 percent, while the Copenhagen 20 Index decreased 0.9 percent. The OMX Helsinki 25 Index slipped 0.7 percent and Norway’s OBX Index declined 0.6 percent.

The following companies’ shares were among the most active in Nordic markets today. Symbols are in parentheses.

DNO International ASA (DNO NO) climbed 1.2 percent to 9.05 kroner. The first foreign company to pump oil in Iraq since the 1970s signed a memorandum of understanding which gives it exclusive rights to negotiate a production sharing agreement for Block 48 in Yemen.

Ericsson AB (ERICB SS) slumped 1.9 percent to 72.95 kronor, erasing three days of gain. The world’s biggest maker of mobile- phone networks says it declined to bid for the $451 million BSNL contract in India, the Wall Street Journal reported.

SEB AB (SEBA SS), the second-largest bank in the Baltic countries, climbed 0.7 percent to 49.93 kronor. It was raised to “overweight” from “neutral” by at JPMorgan Chase & Co.

Nordea Bank AB (NDA SS), the Nordic region’s largest bank, was cut to “underweight” from “neutral” by the broker. Its shares fell 1.3 percent to 69.85 kronor, paring two days of gain.

Stonesoft Oyj (SFT1V FH) jumped 14 percent to 66 euro cents, climbing the most since July. The maker of computer software security products said it expects new business opportunities to have a “positive effect” on its net sales and profitability.

Yara International ASA (YAR NO) slumped 4.5 percent to 255.8 kroner, falling the most since June. The largest publicly traded nitrogen-fertilizer maker was cut to “neutral” from “buy” at UBS AG.

To contact the reporter on this story: Adam Ewing in Stockholm at

To contact the editor responsible for this story: David Merritt at

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