Nordic Stocks: Electrolux, NCC, Norske Skog, REC, Tele2, Yara
The Stoxx Nordic 30 Index, the benchmark measure for the region, advanced 0.4 percent to 7,815.83 at the 5:30 p.m. close in Stockholm, the highest level since May 2008.
The following shares were among the most active in Nordic markets today. Symbols are in parentheses.
Electrolux AB (ELUXB SS) fell 1.5 percent to 184.2 kronor, paring yesterday’s 1.9 percent climb. The shares of the Swedish maker of home appliances were downgraded to “sell” from “neutral” at Redburn.
NCC AB (NCCB SS) rose 1.6 percent to 155.7 kronor, extending yesterday’s 2.3 percent advance. The Swedish construction company was initiated at “buy” at Deutsche Bank AG.
NKT Holding A/S (NKT DC), the world’s largest maker of industrial vacuum cleaners, increased 3.2 percent to 323 kroner, extending yesterday’s 3.9 percent jump. It said its cable division won a 600 million-krone ($105 million) contract with the Dutch-German transmission system operator TenneT for the manufacture and delivery of a high-voltage submarine cable to the Riffgat Wind Farm 20km north-west of the island of Borkum in the Wadden Sea.
Norske Skogindustrier ASA (NSG NO), the Norwegian papermaker, increased for the second day, rising 5.1 percent to 16.4 kroner. It agreed to sell its Klosteroeya property to a group consisting of Conceptor Eiendomsutvikling AS and Bratsberg Gruppen AS. The company also finalized the sale of a property at Nedre Ranheim. The total proceeds are about 240 million kroner ($40.4 million).
Renewable Energy Corp. ASA (REC NO) jumped 2.1 percent to 19.66 kroner, the highest since Nov. 9. Orkla ASA’s Chairman Stein Erik Hagen said the company’s almost 40 percent stake in Renewable Energy Corp. is no longer for sale, Verdens Gang reported, citing the chairman.
Tele2 AB (TEL2B SS), Sweden’s second-biggest phone operator, slipped 2 percent to 142.4 kronor, paring yesterday’s 2.4 percent gain. It was cut to “sell” from “hold” at ABG Sundal Collier.
William Demant Holding A/S (WDH DC) advanced 3.3 percent to 463 kroner, to rise for a second day. The world’s second-biggest hearing-aid maker was raised to “buy” from “hold” at Deutsche Bank AG.
Yara International ASA (YAR NO), the world’s largest publicly traded nitrogen-fertilizer maker, rose 1.9 percent to 345 kroner, the highest price since August 2008. Citigroup Inc. recommends buying Yara in 2011 on demand and pricing, and said it expects nutrient global demand to match or exceed peak levels in 2007.
To contact the reporter on this story: Adam Ewing in Stockholm at firstname.lastname@example.org.