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UPDATE 3-NORDIC STOCKS - Factors to watch on Oct 31
October 31, 2013 / 7:12 AM / 4 years ago

UPDATE 3-NORDIC STOCKS - Factors to watch on Oct 31

(Adds Pandora, updates Sanoma)

STOCKHOLM, Oct 31 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Thursday:

NOVO NORDISK

The Danish drugmaker forecast high-single digit profit growth next year after reporting a 1.6 percent rise in operating profit in the third quarter, aided by strong sales of diabetes drug Victoza and modern insulins.

Operating profit for the third quarter rose to 7.99 billion Danish crowns ($1.48 billion), compared with an average forecast for 8.19 billion crowns in a Reuters poll of analysts.

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TELENOR

The mobile phone operator lowered its 2013 revenue guidance on Thursday on weak figures in its key Danish and Norwegian markets but kept its profit margin outlook and increased its investment forecast.

Norway-based Telenor, which has around a 150 million subscribers across Europe and Asia, said its third quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 9 percent to 9.62 billion crowns ($1.64 billion), a touch ahead of forecasts for 9.54 billion crowns.

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DANSKE BANK

Denmark’s biggest financial institution reported a third-quarter pretax profit of 2.6 billion Danish crowns ($480 million), below the 3.3 billion seen in a Reuters poll of analysts.

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NOKIAN RENKAAT

Finnish tyre maker Nokian Renkaat’s quarterly operating profit rose more than expected as it expanded market share in Russia, its biggest market.

It said its third-quarter earnings before interest and tax (EBIT) rose 12 percent to 95.7 million euros ($131.79 million), beating the average analyst forecast of 90 million in a Reuters poll.

But it reiterated its recently-lowered outlook for 2013, forecasting a decline in net sales and operating profit due to a slowdown in Russia’s economy and the impact of an unfavourable rouble exchange rate.

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PANDORA

The Danish jewellery maker raised its full-year sales and margin outlook after strong sales of new products in the third quarter.

It expects 2013 revenue of around 8.6 billion Danish crowns ($1.6 billion), up from a previous forecast of 8 billion.

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SANOMA

Finland’s largest media group said it plans to cut magazine titles and 500 jobs in the Netherlands after a fall in advertising sales and an unsuccessful Dutch acquisition strained its finances.

Sanoma’s third-quarter profit fell 4 percent from a year earlier to 77 million euros as businesses spent less on advertising and consumers continued shifting from print to online media.

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COLOPLAST

The Danish medical supplies maker is expected to report a 6.6 percent rise in fourth-quarter operating profit, a Reuters poll showed, aided by stronger revenue in all of its business units. Results are due at around 1100 GMT.

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