Nordic Stocks: Geveko, Norden, LifeCycle, NunaMinerals, Oasmia
The Dow Jones Nordic 30 Index, a measure for the region, fell for a second day, losing 115.49, or 1.5 percent, to 7,432.72 at the 5:30 p.m. close in Stockholm.
The following companies were among the most active in Nordic markets today. Stock symbols are in parentheses.
D/S Norden A/S (DNORD DC) fell 3.2 percent to 187 kroner, erasing yesterday’s gain. The biggest commodities-shipping line traded in Europe said charter rates for transporting raw materials probably will be lower this year than in 2010.
Geveko AB (GVKOB SS) jumped 12 percent to 12.60 kronor, the biggest gain since October 2009. The Swedish holding company and maker of chemicals and building materials said it has won contracts in Norway, Denmark and Sweden.
LifeCycle Pharma A/S (LCP DC) fell 0.8 percent to 1.22 kroner, its second day of losses. The Danish drug developer said its 2010 net loss widened to 274 million kroner ($50.7 million) in 2010 from 271 million kroner a year earlier. The company said it expects a net loss of as much as 280 million kroner in 2011.
NunaMinerals A/S (NUNA DC) rose 4.3 percent to 318 kroner, its biggest gain since Jan. 24. The Greenlandic company, which in 2009 signed a partnership deal with Rio Tinto Group, said it has identified 14 copper and gold targets in its Inglefield Land deposit and it’s exploring the possibility of discovering rare earth elements at the site.
Oasmia Pharmaceutical AB (OASM SS) rose 2 percent to 12.50 kronor, reversing yesterday’s losses. The Swedish pharmaceutical company specializing in human and veterinary oncology said it signed an agreement with Baxter Oncology GmbH for large scale commercial production of its product candidates.
Sparekassen Faaborg A/S (SPFA DC) climbed 5.5 percent to 675 kroner. The regional Danish bank gained the most in almost two years after agreeing to merge with Svendborg Sparekasse A/S (SVEND DC), another regional bank. Svendborg advanced 1.7 percent to 880 kroner.
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