Danish central bank Governor Nils Bernstein said the Nordic nation’s economy will rebound and warned against resorting to fiscal stimulus in the current market climate.
WHAT TO WATCH: * Sweden’s government presents its budget for 2012 after scrapping plans to cut incomes taxes amid a worsening of the country’s economic outlook.
BOND MARKET: * Danish central bank sells 2%, 2014 and 3% 2021 bonds, 10:15 a.m.
COMPANIES: * Saab (SAABB SS) hosts Capital Markets Day in Karlskoga, 9:15 a.m. *FLSmidth (FLS DC), GN (GN DC), Jyske Bank (JYSK DC) Novozymes (NZYMB DC), Pandora (PNDORA DC), Vestas (VWS DC) present at the Danish Shareholders Association’s conference in Copenhagen. * Algeta (ALGETA NO) presents at UBS Global Life Sciences Conference in New York, 4:30 p.m.
ECONOMY: * Sweden 2Q GDP (final), 9:30 a.m. * Riksbank minutes from rate meeting on Sept. 6, 9:30 a.m. * Denmark’s central bank publishes quarterly review, 7 a.m. * Finland August jobless rate, 8 a.m.
GOVERNMENT: * Sweden Budget Proposal release, 8 a.m. * Sweden’s Finance Minister Anders Borg’s press meeting on budget proposal, 9 a.m. * Swedish Parliament budget debate, 1 p.m. * Finnish parliament begins discussing expanded powers for the European Financial Stability Facility, 1 p.m. * Norway’s Minister of Petroleum and Energy Ola Borten Moe attends meeting of energy ministers in Wroclaw, Poland. * Nordic Council meets in Oslo. * Norway’s Defense Minister Grete Faremo meets Ukrainian Defense Minister Mikhail Yezhel in Oslo.
MARKETS: * The OMX Stockholm 30 Index dropped 3.4% to 895.42. * Nasdaq OMX Helsinki 25 Index fell 3.1% to 1885.21. * Oslo’s OBX Index retreated 2.3% to 332.9. * The Copenhagen 20 Index declined 1.9% to 340.98.
To contact the editor responsible for this story: Frances Schwartzkopff at firstname.lastname@example.org