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STOCKS NEWS EUROPE-Norwegian Air up after traffic data

Tue Sep 8, 2009 9:01am EDT

Stocks

   

Shares in Norwegian Air Shuttle (NWC.OL) rise 6.5 percent to 85.50 crowns following recent broker upgrades and the budget airline reporting that its total passenger traffic (RPK) rose 9 percent in August from a year earlier.

"Passenger numbers were good and roughly as expected," analyst Dag Sletmo in ABG Sundal Collier says, adding he sees recent broker upgrades as the main reason for the stock's rise.

Norwegian Air's unit revenues were flat in August from last year.

Pareto Securites lifted is share price target for Norwegian Air to 146 crowns from 76 after lowering its cost estimates, it said in a note on Monday.

Shares in Finnish national carrier Finnair (FIA1S.HE) are flat after it reports traffic falling by more than 10 percent, while shares in Scandinavian airline SAS (SAS.ST) drop 1.9 percent.

For more double click on [ID:nL8149201] and [ID:nL8157101].

Reuters Messaging rm://richard.solem.reuters.com@reuters.net


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