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Nordic Stocks: SAS, Saab, Carlsberg, Sevan, Subsea Shares Move

Nov. 10 (Bloomberg) -- The Stoxx Nordic 30 Index, the benchmark measure for the region, fell 0.4 percent to 7,083.19 at the 5:30 p.m. close in Stockholm, paring yesterday’s 1 percent gain.

The OMX Stockholm 30 Index slipped 0.6 percent. Norway’s OBX Index retreated 0.8 percent. The OMX Helsinki 25 Index fell 0.6 percent, while the Copenhagen 20 Index declined 0.1 percent.

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

Amagerbanken A/S (AMAG DC) advanced 3.6 percent to 2.90 kroner, its biggest jump since Oct. 14. The Danish lender said six board members and Chairman N.E. Nielsen are stepping down. Their departure follows the resignation of Chief Executive Officer Joergen Braendstrup.

Carlsberg A/S (CARLB DC) declined 1.2 percent to 558 kroner, the fourth straight decline. The maker of Tuborg and Baltika beer was downgraded to “neutral” from “buy” at Natixis.

Eitzen Chemical ASA (ECHEM NO) soared 8.7 percent to 1.38 kroner, its highest level since Aug. 10. The Norwegian chemical-tanker owner said third-quarter net loss shrank to $31 million from $35 million a year earlier.

Mamut ASA (MAMUT NO) gained 1.2 percent, to 8.3 kroner, the highest level since April 29. The Norwegian maker of computer software for small businesses named Knut Staalen chief financial officer, starting January 2011.

Saab AB (SAABB SS) decreased 1.1 percent to 101 kronor, erasing yesterday’s 0.1 percent gain. The Swedish maker of the Gripen fighter said it would give notice to more than 200 employees and close its Dynamics business unit plant in Eskilstuna, Sweden, as part of a plan to lower costs.

SAS Group AB (SAS SS) plummeted 7.5 percent to 24.6 kronor, the biggest fall since May 19. The owner of Scandinavia’s largest airline was fined 70.2 million euros ($96.7 million) by European Union regulators, one of 11 carriers sanctioned for a global cargo cartel. SAS said it would appeal the charge. Separately, the company reported a third-quarter net loss of 1.05 billion kronor ($155.6 million) compared with net income of 152 million kronor a year earlier.

Sevan Marine ASA (SEVAN NO) tumbled 7.3 percent to 7.06 kroner, paring yesterdays 7.5 percent rise. The Norwegian owner of offshore oil rigs posted a net loss of $66.4 million in the third quarter, compared with a profit of $500,000 a year earlier.

Talvivaara Mining Co. (TLV1V FH) advanced 4.6 percent to 6.685 euros, the most since July 6. The Finnish nickel mine-owner reported third-quarter net income of 19.8 million euros, compared with a net loss of 9.3 million euros in the same period a year earlier.

To contact the reporter on this story: Niklas Magnusson in Stockholm at nmagnusson1@bloomberg.net

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

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