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Nordic Stocks: Bavarian Nordic, Norsk Hydro, Songa Offshore

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May 3 (Bloomberg) -- The Stoxx Nordic 30 Index, a measure for the region, rose 40.59, or 0.6 percent, to 6,827.16 in Stockholm, erasing the 0.5 percent loss on April 30.

The OMX Stockholm 30 Index rose 0.5 percent as did Norway’s OBX Index. The Helsinki 25 Index slipped 0.1 percent and the OMX Copenhagen 20 Index jumped 0.5 percent.

The following companies’ shares are among the most active in Nordic markets today. Symbols are in parentheses.

Bavarian Nordic A/S (BAVA DC) climbed 6.8 percent to 281.5 kroner, its highest close since December 2007. The Danish biopharmaceutical company said a cancer treatment similar to one it is testing got approval from the U.S. Food and Drug Administration.

Lundin Petroleum AB (LUPE SS), Sweden’s largest oil company, rose 0.9 percent to 44.87 kronor, paring the 1.8 percent loss on April 30. The company started gas output at the Singa field in the Lematang block in Indonesia. Separately, it started oil production from the Volund field in the Norwegian North Sea. The field will have output of about 10,000 barrels of oil a day to mid-2010, it said in a statement.

Norsk Hydro ASA (NHY NO) rose 2.6 percent to 47 kroner, the biggest rise in six weeks. Europe’s third-largest aluminum maker agreed to take over mine assets from Vale SA for $4.9 billion.

Novozymes A/S (NZYMB DC), the largest maker of industrial enzymes, fell 1 percent to 668 kroner, paring the 10 percent rise on April 29. The company was downgraded to “hold” from “accumulate” at Danske Market Equities.

Skanska AB (SKAB SS) jumped 1.8 percent to 123 kronor, up 41 percent in the past year. Sweden’s largest builder said it won a $250 million contract for PPP highway in Chile.

Songa Offshore SE (SONG NO) rose 0.8 percent to 27.71 kroner, erasing the 1.2 percent slide on April 30. The Norwegian oil-equipment service company reported first-quarter net income of $33.2 million and said Chief Financial Officer Tom E. Jebsen will become senior vice president and will be replaced by Geir Magne Karlsen, who will take up his position on August 2.

Torm A/S (TORM DC) fell 6.6 percent to 57 kroner, sliding for a fourth day. Europe’s biggest oil-products shipper’s tanker division chief and five other executives have quit the Hellerup, Denmark-based company and joined a newly established competitor, Hafnia Management, newspaper Jyllands-Posten reported.

Yara International ASA (YAR NO) rose 1.7 percent to 210 kroner, paring the 2.6 percent loss on April 30. The world’s largest supplier of mineral fertilizers was raised to “neutral” from “reduce” at First Securities ASA.

To contact the reporter on this story: Adam Ewing in Stockholm at

To contact the editor responsible for this story: David Merritt at

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