Nordic Stocks: Meda, Outokumpu, Norsk, Peab, Sandvik Active
The Stoxx Nordic 30 Index, the benchmark measure for the region, rose 0.9 percent to 7,404.51 at the 5:30 p.m. in Stockholm, its third rise.
The following shares were among the most active in Nordic markets today. Symbols are in parentheses.
Meda AB (MEDAA SS) jumped 5.9 percent to 52.5 kronor, the largest increase since May 10. Sweden’s second-largest health- care company has acquired three over-the-counter consumer products in the U.S. from GlaxoSmithKline Plc, it said in a statement. Total annual sales for the products are about 100 million kronor ($14.7 million) and the purchase price was 235 million kronor, it said.
Norsk Hydro ASA (NHY NO) slumped 1.8 percent to 39.41 kroner, erasing yesterday’s 1.5 percent gain. Europe’s third- largest maker of aluminum said it expects the acquisition of Vale SA’s aluminum assets to close in the first half of next year, delayed from a previously expected close in the fourth quarter this year.
Outokumpu Oyj (OUT1V FH), a Finnish maker of stainless steel, tumbled 5.4 percent to 13.1 euros, the biggest fall since July 22. The company said fourth-quarter underlying operating profit will be lower than earlier forecast.
Peab AB (PEABB SS) rose 2.8 percent to 55.5 kronor, its second advance. The Swedish construction company said it entered an agreement to build 10 Ikea stores in the Nordic area.
Sandvik AB (SAND SS) rose 1.3 percent to 128.8 kronor, its third increase. The world’s largest maker of metal-cutting tools said Lars Pettersson will resign from his role of chief executive officer and be replaced by Olof Faxander, head of SSAB (SSABA SS), Sweden’s largest steelmaker. SSAB shares fell 1.5 percent to 105 kronor.
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