Nordic Stocks: Atlas, Fortum, JM, Lundin, Vestas, Volvo, Yara
The Stoxx Nordic 30 Index, the benchmark measure for the region soared 2.5 percent to 7,198.31 at the 5:30 p.m. close in Stockholm, its biggest advance since Sept. 1.
The following companies’ shares were among the most active in Nordic markets today. Symbols are in parentheses.
Atlas Copco AB (ATCOA SS) rose for a second day, gaining 2.7 percent to 159.5 kronor. The world’s largest maker of air compressors reiterated its forecast that the overall demand for its products and services is expected to “increase somewhat.”
Bavarian Nordic A/S (BAVA DC) gained for the first day since Nov. 18, jumping 8.3 percent to 222 kroner. The Danish drugmaker supplying the U.S. government with smallpox vaccines said it raised about 205 million kroner ($35.9 million) in gross proceeds from its share sale. The company sold 1.05 million shares at 195 kroner a share, it said in a statement late yesterday.
Fortum Oyj (FUM1V FH) rose for the first day this week, adding 0.8 percent to 20.5 euros. Finland’s largest utility signed a memorandum of understanding with Russia’s Rosatom and the Bulgarian utility NEK on developing the Belene nuclear plant in Bulgaria.
JM AB (JM SS) increased 4.1 percent to 144.5 kronor, its second day of gains. The Swedish builder sold its Magasin 3 property on Kvarnholmen with a capital gain of 20 million kronor ($2.9 million).
Lundin Petroleum AB (LUPE SS) jumped to its highest level since May 2006, gaining 4.9 percent to 72.45 kronor. Sweden’s largest oil explorer found oil near the Luno and Draupne discoveries in the North Sea.
Scania AB (SCVB SS) advanced for a second day, gaining 3.8 percent to 149.1 kronor. UBS AG named the Swedish truckmaker on a list of Europe’s 10 most attractive stocks.
Talvivaara Mining Co. (TLV1V FH) snapped three days of declines, jumping 4.7 percent to 6.22 euros. The Finnish nickel mine-owner said it expects to produce as much as 35,000 tons of nickel and 70,000 tons of zinc in 2011.
Vestas Wind Systems A/S (VWS DC) slipped 2.2 percent to 159.8 kroner, erasing some of yesterday’s 4.4 percent gain. Mark Fielding, London-based analyst with Citigroup Inc., lowered his price target on shares of the world’s largest maker of wind turbines to 120 kroner from 175 kroner, according to Bloomberg data.
Volvo AB (VOLVB SS) reached its highest price since Dec. 2007, adding 6.2 percent to 108.4 kronor. UBS raised its recommendation on the world’s second-biggest truckmaker to “buy” from “neutral.”
Yara International ASA (YAR NO) increased for the first time in four days, soaring 4.3 percent to 308.5 kroner. HSBC Holdings Plc gave Yara, the world’s largest publicly traded maker of nitrogen fertilizer, a share-price estimate of 330 kroner and a “neutral” rating in new coverage.
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