Frontline, Pronova BioPharma, Statoil May Be Active: Nordic Stock Preview
The following companies may have unusual price changes in Nordic trading. Stock symbols are in parentheses and share prices are from the previous close.
The Stoxx Nordic 30 Index, the benchmark measure for the region, fell 0.2 percent to 6,967.23 in Stockholm, snapping four days of gains.
Frontline Ltd. (FRO NO) The world’s biggest operator of supertankers was rated new “outperform” at Wells Fargo Securities. The shares fell 0.5 percent to 168.6 kroner.
Pronova BioPharma AS (PRON NO): The Norwegian company that makes prescription drugs from fish oil reported an amendment to its license and supply agreement for Omacor with Abbott Products Operations AG. The new agreement includes payment of an upfront incentive fee to Pronova BioPharma of 19.5 million euros ($25.3 million), and also establishes a framework for the collaborative development of new and improved omega-3 derived pharmaceutical products. The shares gained 1.9 percent to 11 kroner.
Statoil ASA (STL NO): Norway’s biggest oil and gas producer amended a leasing contract with Transocean Ltd. to move a rig to Egypt from the Gulf of Mexico. Statoil plans five months of drilling in the Middle Eastern country before moving the Discoverer Americas back to the Gulf, Transocean said yesterday in a regulatory filing. The shares slipped 0.4 percent to 125.9 kroner.