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UPDATE 1-NORDIC STOCKS - Factors to watch on July 24
July 24, 2013 / 6:26 AM / 4 years ago

UPDATE 1-NORDIC STOCKS - Factors to watch on July 24

(Updates Outokumpu, Konecranes and Kesko, adds Nordea)

HELSINKI, July 24 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Wednesday:


Volvo posted a smaller-than-expected fall in quarterly earnings and a healthy rise in orders.

Its operating earnings fell to 3.26 billion Swedish crowns ($505.18 million) from a year-ago 7.71 billion, topping a mean forecast of 2.47 billion seen in a Reuters poll of analysts.

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The Finnish stainless steelmaker warned its third-quarter underlying loss would be weaker than in the second quarter due to low nickel prices, disappointing markets which expected an improvement.

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Finnish crane maker said it plans to cut up to 600 jobs and reduce its annual costs by 30 million euros ($40 million) by the end of 2014 due to weak sales. Its second-quarter operating profit fell to 17 million euros from 35 million a year ago.

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The Nordic region’s biggest bank has applied for access to the Chinese stock market in Shanghai, newspaper Berlingske said. Only few international investment banks are active in the Chinese stock market for A-shares in Shanghai.

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Finnish retail and wholesale group said quarterly core operating profit increased 10 percent from a year ago, in line with market expectations, as cost cuts boosted its profitability.

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Apple Inc’s quarterly results on Tuesday showed stronger-than-expected sales of the iPhone, a reminder that Nokia’s attempt to regain market share won’t be easy.

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Additional reporting by Copenhagen, Oslo and Stockholm newsrooms $1 = 0.7565 euros $1 = 6.4531 Swedish crowns Reporting by Helsinki Newsroom

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