Nordic Stocks: DNO International, Norden, Peab and Sevan Move

The Stoxx Nordic 30 Index, the benchmark measure for the region, rose 0.4 percent to 7,644.08 at the 5:30 p.m. close in Stockholm, extending yesterday’s gain.

The OMX Stockholm 30 Index rose 0.5 percent, while the OMX Helsinki 25 Index climbed 0.3 percent. Norway’s OBX Index was flat at 402.22 and the Copenhagen 20 Index fell 0.1 percent.

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

DNO International ASA (DNO NO) fell 3.6 percent to 8.92 kroner, a second day of losses. The Norwegian oil company said no hydrocarbons were detected in Chite-1 exploration well in the Inhaminga Block in Mozambique. DNO will continue exploration in the Inhaminga Block and has exercised an option with the contractor to drill a second well named Inhaminga High-1. The spud of the will is estimated to take place during January 2011.

D/S Norden A/S (DNORD DC) climbed 1.5 percent to 204 kroner, rising for a second day. Europe’s largest publicly traded commodities shipping line said it has won an order to transport 600,000 metric tons of wood chips for Vattenfall AB over a three-year period.

FormPipe Software AB (FPIP SS) climbed 2.5 percent to 16.6 kronor, paring two days of losses. The Swedish developer of electronic documents won an order worth 2 million kronor ($300,000).

Peab AB (PEABB SS) gained 3.1 percent to 57.75 kronor, its highest price since April 2008. The Swedish construction company won an order worth 292 million kronor.

Sevan Marine ASA (SEVAN NO) advanced 7.7 percent to 6.66 kroner, extending yesterday’s 4.1 percent gain. The Norwegian owner of offshore oil rigs said it got commitments for a $480 million debt facility for its Sevan Driller rig. Syndication is not closed yet and other investors are expected to join the facility, the company said.

Skanska AB (SKAB SS) jumped 2.2 percent to 133.9 kronor, the highest price since April 12. Sweden’s biggest builder said it sold its 50 percent share in PPP highway Autopista Central in Santiago, Chile, with a gain after tax of about 5 billion kronor. The buyer is Alberta Investment Management Corporation of Canada.

TopoTarget A/S (TOPO DC) ended two days of losses, gaining 4 percent to 3.36 kroner. The Danish biotechnology company said it has started the recruitment of patients in a non-small cell lung cancer study for treatment with its Belinostat product in combination with Tarceva.

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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