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Nordic bourses start the year 2012 in the positive territory

Monday, 02 January 2012
The Nordic stock exchange indices ticked to the positive side of the market indications, joining Europe which also became also more positive in a gloomy climate on Monday.

The push in the morning was the better tan expected German and Chinese PMI than gave the first shot of an apparent better times to come and pushed the positive sentiment.

"It's very low volume and I think we have a pretty tough year ahead. We have not had anything but doomsday mood, "said Mark Priest, senior broker at ETX Capital to Reuters on Monday.

At the close, the OMXN40 had risen 1.4 percent to 912.5 points. The index does not include Norwegian shares.
Helsinki Stock Exchange, the H25-Index closed up 2.5 percent. Steel companies were strong in Europe in the wake of the improved risk appetite as such Outokumpu was up 6.1 percent while Rautaruukki rose 8.2 percent. Nickel Company Talvivaara, which rose 3.2 percent on Friday, saw another step up 5.8 percent.

In Copenhagen, the OMXC20 shut up 2.1 percent with index heavy Novo Nordisk growing 1.9 percent higher.
Vestas Wind was still flying high with Friday's gain of 4.9 percent with an additional 9.6 percent rate lift on Monday. The company said last Friday that it experienced a rush of orders before the end of the year. Carlsberg and Danske Bank were also strong, and both advanced nearly 5 percent.


In Oslo the OBX index grew just only 0.9 percent with index heavy Statoil up 0.8 percent. Finance companies DNB, Gjensidige and Storebrand fell 0.1, 1.2 and 3.6 percent respectively.

Biggest winners in the index was Renewable Energy, which rose 6.6 percent during the first trading day. Norske Skog rose 15 percent after negotiating to a better loan terms.

Stockholm Stock Exchange followed the trend in Europe during the first trading day and ended up. Stronger German and Chinese purchasing managers' index than expected contributed to sentiment and gave in Stockholm extra boost to the SSAB shares.

"German PMI was marginally stronger than expected. Anything is better than expected in the current market sentiment which will lead to renewed risk appetite. The low liquidity provides stronger stock market reaction than normally, "said Christian Tegllund Blaabjerg, chief economist at FIH, to MarketWatch.com.

OMXS30 closed 1.2 percent up to 999.4 points. Turnover was fairly low, Skr6.0 billion on the Stockholm Stock Exchange, while sales including Chi-X, Burgundy, Turquoise and Bats amounted to Skr7.7 billion.

The close markets in the U.S. and Japan, China and the UK contributed to a lower activity than usual.

SSAB A shares was up 5.1 percent at Skr63:75 and was the best performing companies in the OMXS30 index today.
Boliden recorded 3.5 percent higher at Skr104, the highest closing price since early August 2011. Even more successful was the mining colleagues Lundin Mining, which rose 5.2 percent to Skr27:40, and Dannemora which rose 7.6 percent to Skr 41:30.

Vehicle manufacturer performed well and within OMXS30 truck manufacturers,  Volvo and Scania B shares were up 3.3 and 1.3 percent at Skr77:80 and Skr103:30 respectively.
ABB rose 3.4 percent to Skr 133:90.

Also, banks had a good day. Nordea, SEB A,  SHB and Swedbank A shares rose between 1.6 and 2.9 percent.

Husqvarna B step up to a full entire 4.4 percent to Skr 33:10.

On the minus side, there was telephone operator Tele2, which dropped 0.3 percent to Skr 133:50. TeliaSonera was up 0.3 percent at Skr46:89.
Ericsson B rose 0.1 percent to Skr 70:50 while Nokia, lifted 4.4 percent to Skr 34:96.

Even the defensive companies, Swedish Match and AstraZeneca could not keep up with Monday's rise and were also up 0.1 percent and 0.3 percent.

It was thin on the news front regarding individual companies. Fingerprint Card was one of the big winners with a gain of 6.5 percent to Skr 9:90 since it received its largest order from Asia worth about Skr44 million.

PA Resources announced that it sold its stakes in two Tunisian fields for about Skr27.5 million. The oil company’s share was quoted 1.9 percent higher at Skr2:16.

In the sector Alliance Oil was up 1.0 percent, while Lundin Petroleum rose 0.6 percent.
By Scancomark.se Team

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