UPDATE 2-NORDIC STOCKS - Factors to watch on Jan 29

Wed Jan 29, 2014 2:45am EST

(Adds Norsk Hydro and Lundin Petroleum, updates Nordea and SCA)

HELSINKI/OSLO Jan 29 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Wednesday:

NORSK HYDRO

The Norwegian aluminium producer Norsk Hydro expects higher costs of some 150 million crowns ($24.46 million) per quarter following a change in the tax regime in the Brazilian state of Para, where the firm has installations.

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NORDEA

The Nordic region's biggest bank by market value announced on Wednesday plans to accelerate its 2015 cost savings programme as fourth-quarter earnings landed below analyst expectations.

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SCA

The Swedish hygiene and paper products maker posted a bigger than expected rise in core fourth-quarter earnings on Wednesday, boosted by forest swaps and cost savings.

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LUNDIN PETROLEUM

The Swedish oil firm said it would more than double its production over the next two years and targets 600 million barrels in exploration potential, mostly in Norway and South East Asia. The firm is holding a capital markets day in Oslo on Wednesday.

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SCANIA

The Swedish truck maker, controlled by Germany's Volkswagen , is set to issue its fourth-quarter results at around 0830 GMT. Analysts on average expect operating earnings to be up 29 percent to 2.8 billion crowns in the quarter.

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WARTSILA

The Finnish ship and power plant engine maker reported a smaller-than-expected quarterly profit and announced plans to cut about 1,000 jobs, aiming to reduce annual costs by 60 million euros.

The company said its operating profit, excluding one-off items, rose to 201 million euros ($275 million) from 188 million a year earlier. Analysts on average expected 215 million euros, according to a Reuters poll.

COLOPLAST

The Danish health care products maker is set to issue first quarter results at around 1100 GMT. The company expected to post a 8.6 percent rise in operating profit aided by stronger revenue in all of its business units.

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(Additional reporting by Copenhagen, Oslo and Stockholm newsrooms)

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