NORDIC DAYBOOK: Nokia Workers Face Steepest Job Cuts in 20 Years

Nokia Oyj (NOK1V) workers are bracing for what may be the steepest job cuts in almost two decades as the world’s largest maker of mobile phones may cut as many as 6,000 jobs, or 38 percent of the Finnish company’s global devices R&D workforce. Related story: {FIFW NSN LJIA9G1A1I4H <GO>}


WHAT TO WATCH: *Norges Bank Governor Oeystein Olsen to speak at a conference organized by Finance Norway in Oslo, 9:30 a.m. DNB CEO Rune Bjerke, Norway’s Financial Supervisory Authority Director General Bjoern Skogstad Aamo and Confederation of Norwegian Enterprise Director John Bernander also speak.

EARNINGS: *East Capital Explorer (ECEX SS), 1Q at 7 a.m *Investor (INVEB SS), 1Q at about 12 p.m

COMPANIES: *RNB (RNBS SS) March sales, 8 a.m *Ponsse (PON1V FH) AGM, 9 a.m. *LifeCycle Pharma (LCP DC) AGM, 1 p.m. *Topdanmark (TOP DC) AGM, 3 p.m.

BOND MARKET: *Danish central bank auctions 2% bonds due 2014, ends 10:15 a.m.

ECONOMY: *Swedish March Inflation, 9:30 a.m *Swedish Union Board Unemployment for March, 10 a.m *Iceland March unemployment data, 2 p.m. *Iceland March international reserves, 6 p.m.

GOVERNMENT: *Swedish Green Party spokesman Gustav Fridolin speaks to journalists, 10 a.m. *Denmark presents 2020 plan for economy and welfare, 12 noon. *Iceland President Olafur R. Grimsson speaks in Copenhagen, 5:30 p.m. *Advance voting ends in Finland’s parliamentary elections

CONFERENCES: *Statoil CEO Helge Lund speaks at an Energy Seminar in Bergen organized by the company, 8:30 a.m. *Norway’s Government Pension Fund Global to hold a press seminar on corporate governance, 10 a.m.

MARKETS: *The OMX Stockholm 30 Index slid 0.2% to 1,148.69 *Nasdaq OMX Helsinki 25 Index gained 0.2% to 2,663.62 *Oslo’s OBX Index dropped 0.1% to 417.31 *The Copenhagen 20 Index decreased 0.2% to 470.04 *Swedish krona -- U.S. 6.3037 - EU 9.0766 *Norwegian krone -- U.S. 5.4970 - EU 7.9156

To contact the editor responsible for this story: Kati Pohjanpalo at

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