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Nordic Stocks Advance; Boliden, Kesko Rise as Nokia Declines

The Stoxx Nordic 30 Index, the benchmark measure for the region, advanced 1.1 percent to 7,780.06 at 11:04 a.m. in Stockholm.

The OMX Stockholm 30 Index rose 0.9 percent. The OMX Helsinki 25 Index gained 0.8 percent, while Norway’s OBX Index rallied 1 percent. The Copenhagen 20 Index surged 2.5 percent.

Boliden AB (BOL SS) advanced 2.5 percent to 140.40 kronor. The Swedish copper and zinc miner said it will invest 3.9 billion kronor ($585 million) to expand the Garpenberg mine and increase ore production to 2.5 million metric tons annually.

Eniro AB (ENRO SS) gained 1.7 percent to 0.59 kronor. The Nordic region’s biggest publisher of yellow pages said it will implement a share consolidation on Jan. 27, with shareholders getting one new share for every 50 existing shares.

H+H International A/S (HH DC) surged 8.3 percent to 65.50 kroner. The Oelsted, Denmark-based maker of lightweight concrete said rival Xella International Gmbh is still considering a takeover of the company.

Kesko Oyj (KESBV FH) increased 1 percent to 34.26 euros after FIM raised Finland’s largest retailer to “accumulate” from “hold”.

Kone Oyj (KNEBV FH) slid 1.3 percent to 41.79 euros. The Finnish company said damage claims have been filed against its German subsidiary and other escalator makers operating in Germany. The total capital amount claimed jointly from all defendants amounts to 71 million euros ($95 million), Kone said today in a statement. Kone’s position is that the claims are without merit, the company said.

Nokia Oyj (NOK1V FH), the world’s second-largest maker of wireless phone systems, lost 1.4 percent to 8.085 euros after Danske Bank A/S cut the stock from “accumulate” to “buy”.

To contact the reporter on this story: Giles Broom in Zurich at gbroom@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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