UPDATE 2-NORDIC STOCKS - Factors to watch on May 7

Thu May 7, 2009 2:50am EDT
 
[-] Text [+]

(Adds Scania, Danske, updates throughout)

HELSINKI, May 7 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

ERICSSON (ERICb.ST)

The world's biggest mobile networks maker holds a capital markets day in Boston, Massachusetts, on Thursday.

In an interview with the Financial Times, Ericsson Chief Executive Carl-Henric Svanberg repeated that the company was preparing for a possible capital injection for its loss-making handset joint venture Sony Ericsson.

The newspaper quoted Svanberg as saying a capital infusion was "not unlikely" and that Sony (6758.T) would be "a logical buyer" if Ericsson sold its stake in the venture it owns jointly with the Japanese firm.

Separately, Bank of America-Merrill Lynch raised its rating on the Ericsson stock to "buy" from "underperform".

For more on the company, double click on [ERICb.ST]

SCANIA (SCVb.ST)

The Swedish company said the main blue-collar union rejected the truck maker's proposal for a four-day work week in response to a sharp fall in demand due to the global economic downturn.

"The negotiations are not formally concluded yet, but the metal workers union (IF Metall) has said no," Scania spokesman Hans-Ake Danielsson said.

White-collar unions at Scania, which holds its annual shareholders meeting later on Thursday, had "in principle" agreed to an adjustment of working hours, he added.

For more on the company, double click on [SCVb.ST]

SECURITAS (SECUb.STContinued...

 

Featured Broker sponsored link