January 31, 2014 / 6:31 AM / 4 years ago

NORDIC STOCKS - Factors to watch on Jan 31

(Updates with Electrolux results) The following stocks may be affected by newspaper reports and other factors on Friday:


The Norwegian seismic surveyor has a 100 percent success rate when it comes to finding oil and gas deposits in the Barents Sea in the Arctic, according to a note by Bernstein Research, Norwegian daily Finansavisen reported on Friday.

The company’s electromagnetic technology confers it an advantage over competitors that enables it to find hydrocarbons where others can’t, said the report.

EMGS shares have been down 12 percent since the beginning of the year.

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The world’s second biggest home appliances raised its outlook for Europe on Friday, saying it now expected long-suffering demand there to grow slightly this year.

But its fourth-quarter core earnings fell more than expected, to 1.22 billion crowns ($187 million) from a year-ago 1.59 billion. The market’s mean forecast was 1.33 billion in a Reuters poll.

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The truck maker’s decision to cut its annual dividend this week has stirred up renewed opposition from Sweden’s small shareholders’ association and minority owners who question the intentions of Volkswagen which together with MAN SE hold nearly 90 percent of votes and about 60 percent of capital in Scania, daily Svenska Dagbladet reported.

The association sought to drum up support last year for a call to have Scania appoint an independent supervisor to ensure the interests of minority shareholders were protected, but the push failed to gain traction.

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($1 = 6.5221 Swedish crowns)

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Additional reporting by Copenhagen, Oslo and Stockholm newsrooms

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