House Has Enough Votes to Pass Budget Easing $63 Billion in Cuts
Nordic Stocks Advance: DSV, Marimekko, Nokia, Statoil Move
The Stoxx Nordic 30 Index, the benchmark measure for the region, rose 0.8 percent to 7,542.91 at the 5:30 p.m. close of trading in Stockholm, trimming yesterday’s losses. The gauge still fell 2.2 percent this week.
DSV A/S (DSV DC) fell 1.8 percent to 115.50 kroner. Goldman Sachs Group Inc. downgraded the Nordic region’s biggest trucking company to “neutral” from “buy.”
Marimekko OYJ (MMO1V FH) fell 3.3 percent to 14.50 euros after Evli downgraded the shares to “reduce” from “accumulate.”
Nokia Oyj (NOK1V FH) gained 1.1 percent to 7.90 euros after JPMorgan Chase & Co. raised its price estimate for the world’s biggest mobile phone maker to 10 euros from 9.50 euros.
Nordea Bank AB (NDA SS) advanced 0.9 percent to 77.65 kronor. Sweden’s four largest banks have ample capital buffers to pass Europe’s next round of tougher stress tests by a wide margin, central bank Deputy Governor Barbro Wickman-Parak said.
Norsk Hydro ASA (NHY NO) added 1.1 percent to 42.99 kroner. The company said it will build a powerplant at Vasstoel in combination with the rehabilitation of the Finnabuvatn dam, according to an e-mailed statement. The company will invest 95 million kroner ($16.3 million).
Statoil ASA (STL NO), Norway’s biggest oil and gas producer, rallied 2.6 percent to 141.70 kroner. The company submitted a 5.6 billion-krone ($958 million) plan for development and operation of the Visund South oil and gas field and expects to hand in proposals for five more fast- track projects this year.
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