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

(Updates with results)

HELSINKI, Oct 29 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

UPM-KYMMENE (UPM1V.HE) The Finnish papermaker reported underlying profit of 131 million euros, beating an average forecast for 72 million in a Reuters poll.

The company said demand started to bottom out during the quarter, and forecast fourth quarter deliveries at the same level as the third. [ID:nHEL009368]

For more on the company, double click on [UPM1V.HE]

TELENOR (TEL.OL)

The Norwegian telecom group reported operating profits of 4.50 billion Norwegian crowns for the third quarter, beating a forecast for 3.50 billion in a Reuters poll.

The firm repeated its guidance for steady organic revenues in 2009 versus 2008 and forecast a 35 percent EBITDA margin for the full year. [ID:nLT81817]

For more on the company, double click on [TEL.OL]

NOVO NORDISK (NOVOb.CO)

The world's largest maker of insulin posted an operating profit of 3.81 billion Danish crowns, beating an average estimate of 3.60 billion seen in a Reuters poll.

For more on the company, double click on [NOVOb.CO]

FINNAIR (FIA1S.HE)

The Finnish national carrier reported a sharp decline in third-quarter sales on Thursday and said it would continue to make losses in the second half. [ID:nLS15770]