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JPM says extra pulp supply to weigh on prices for Nordic forestry firms

BUZZ-JPM says extra pulp supply to weigh on prices for Nordic forestry firms ** J.P.Morgan expects difficulties for Nordic forestry firms in the short term due to a potential decline in pulp prices ** New pulp supply from Cerrado and Liansheng might push prices temporarily below cost support in the near term, JPM says ** Medium-term outlook is rela
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Danske Bank, Lotus Bakeries NV, Vesuvius

EUROPE RESEARCH ROUNDUP-Danske Bank, Lotus Bakeries NV, Vesuvius Aug 13 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Danske Bank, Lotus Bakeries NV and Vesuvius, on Tuesday. HIGHLIGHTS * Abrdn Plc ABDN.L : Morgan Stanley raises target price to 160p from 149p * Danske Bank DANSKE.CO : Morgan Stanley initiates coverage with overweight rating * Lotus Bakeries NV LOTB.BR : Berenberg raises target price to EUR 10,300 from EUR 9,000 *
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Companies sell their businesses in Russia

FACTBOX-Companies sell their businesses in Russia Adds HSBC, Danone, Hugo Boss, updates Yandex Aug 6 (Reuters) - Some Western companies have sold their Russian assets or handed them over to local managers to comply with sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreign-owned assets. Below are some companies that have sold their businesses in Russia, divided by sector: AUTOS Continental CONG.DE sold its Russian tyre plant to holding company S8 Cap
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Stora Enso expects high costs, market uncertainty to continue in 2024

UPDATE 2-Stora Enso expects high costs, market uncertainty to continue in 2024 Adds shares reaction in paragraph 2, analysts comments, background in 9-11 July 24 (Reuters) - Stora Enso STERV.HE expects pressure from high wood costs and market uncertainties to continue throughout 2024, the Finnish forestry firm said on Wednesday. The company's shares were down 4.7% at 0830 GMT.
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Stora Enso Q2 Operational EBIT Up At EUR 161 Mln

BRIEF-Stora Enso Q2 Operational EBIT Up At EUR 161 Mln July 24 (Reuters) - Stora Enso Oyj STERV.HE : Q2 SALES EUR 2,301 MILLION VERSUS EUR 2,377.7 MILLION SEEN IN VARA RESEARCH CONSENSUS Q2 OPERATIONAL EBIT EUR 161 MILLION VERSUS EUR 160.3 MILLION SEEN IN VARA RESEARCH CONSENSUS OUTLOOK FOR Q3 IS SLIGHTLY POSITIVE, SUPPORTED BY STRONG ORDER BOOKS A
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Stora Enso misses second quarter sales expectations

Stora Enso misses second quarter sales expectations July 24 (Reuters) - Finnish forestry firm Stora Enso STERV.HE posted on Wednesday lower-than-expected revenue in the second quarter of 2024 and said it expects pressure from high wood costs and market uncertainties to continue throughout the year. Reporting by Boleslaw Lasocki; Editing by Jacqueli
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Stora Enso appoints Niclas Rosenlew as new CFO

UPDATE 1-Stora Enso appoints Niclas Rosenlew as new CFO Adds detail on start date, background COPENHAGEN, July 24 (Reuters) - Finnish forestry firm Stora Enso STERV.HE said on Wednesday it had appointed Niclas Rosenlew, who is currently chief financial officer at Swedish industrial bearings maker SKF SKFb.ST , as its new CFO. SKF SKFb.ST had announced Rosenlew's resignation late on Tuesday.
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Stora Enso Appoints Niclas Rosenlew As New CFO

BRIEF-Stora Enso Appoints Niclas Rosenlew As New CFO July 24 (Reuters) - Stora Enso Oyj STERV.HE : STORA ENSO APPOINTS A NEW CFO AND A NEW EVP PACKAGING SOLUTIONS DIVISION STORA ENSO APPOINTS A NEW CFO AND A NEW EVP PACKAGING SOLUTIONS DIVISION ROSENLEW WILL LEAVE STORA ENSO TO CONTINUE HIS CAREER OUTSIDE COMPANY NICLAS ROSENLEW IS CURRENTLY GROUP
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Stora Enso appoints Niclas Rosenlew as new CFO

Stora Enso appoints Niclas Rosenlew as new CFO COPENHAGEN, July 24 (Reuters) - Finnish forestry firm Stora Enso STERV.HE said on Wednesday it had appointed Niclas Rosenlew as new chief financial officer. Reporting by Louise Breusch Rasmussen, editing by Anna Ringstrom
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Finland's UPM lags profit forecast due to high maintenance costs

UPDATE 2-Finland's UPM lags profit forecast due to high maintenance costs Adds share move in paragraph 1, analyst comment in paragraph 4, context and peers in paragraphs 9 and 10 July 23 (Reuters) - Finland's UPM-Kymmene UPM.HE posted a smaller than expected rise in its second-quarter operating profit on Tuesday, hit by high costs of maintenance work, sending its shares 4% lower.
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Nordic corporate earnings week ahead

DIARY-Nordic corporate earnings week ahead July 19 (Reuters) - Diary of Nordic (OMXS30-SK, OBX-OS, OMXHPI-HE, OMXC20) corporate earnings for the week ahead NORDIC EARNINGS Start Date Start Time (GMT) RIC Company Name Event Name 23-Jul-2024 05:00 NHY.OL Norsk Hydro ASA Q2 2024 Norsk Hydro ASA Earnings Release 23-Jul-2024 05:00 VAR.OL Var Energi ASA Q2 2024 Var Energi ASA Earnings Release 24-Jul-2024 NTS EQNR.OL Equinor ASA Q2 2024 Equinor ASA Earnings Release 25-Jul-2024 NTS SUBC.OL Subsea 7 SA Q
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Adidas, Spirax Group, Stroeer

EUROPE RESEARCH ROUNDUP-Adidas, Spirax Group, Stroeer July 17 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Adidas, Spirax Group and Stroeer, on Wednesday. HIGHLIGHTS * Adidas AG ADSGn.DE : JP Morgan raises target price to EUR 260 from EUR 250 * J D Wetherspoon JDW.L : Jefferies raises target price to 1,000p from 925p * Spirax Group SPX.L : HSBC raises to hold from reduce * Stroeer SAXG.DE : HSBC raises target price to EUR 79 fro
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Finland's Stora Enso signs 435 million euro funding agreement with EIB

Finland's Stora Enso signs 435 million euro funding agreement with EIB July 11 (Reuters) - Finnish forestry group Stora Enso STERV.HE said on Thursday it has signed a 435 million euro ($471.93 million) loan agreement with the European Investment Bank. Stora's 1 billion euro investment in its Oulu mill in Finland will be partly financed by the loan.
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Stora Enso Signs EUR 435 Mln Funding Agreement With European Investment Bank

BRIEF-Stora Enso Signs EUR 435 Mln Funding Agreement With European Investment Bank July 11 (Reuters) - Stora Enso Oyj STERV.HE : STORA ENSO SIGNS EUR 435 MILLION FUNDING AGREEMENT WITH EUROPEAN INVESTMENT BANK LOAN FEATURES AN AMORTISING STRUCTURE, WITH FINAL REPAYMENT ANTICIPATED IN 2036, EFFECTIVELY LENGTHENING GROUP'S DEBT MATURITY PROFILE Sourc
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Top of the Street: Kingfisher, Naturgy, paper & packaging firms

BUZZ-Top of the Street: Kingfisher, Naturgy, paper & packaging firms A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** RBC raises Naturgy NTGY.MC to "sector perform" from "underperform" following a stock price correction after TAQA and Criteria dropped a plan to jointly bid for the Spanish utility ** Deutsche Bank raises British home improvement retailer Kingfisher KGF.L to "buy" from "hold", citing "robust" income growth, increased consumer confidence, po
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Stifel starts UPM with 'buy' amid rising wood costs in Nordics

BUZZ-Stifel starts UPM with 'buy' amid rising wood costs in Nordics ** Stifel initiates UPM-Kymmene UPM.HE with "buy" rating, while it rates the Finnish forestry firm's Nordic peers with "hold" ** Stifel notes UPM's strong balance sheet and improved revenue mix, adding that the company has managed the decline in graphic paper by closing and selling
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Outokumpu Appoints Kati Ter Horst As President And CEO

BRIEF-Outokumpu Appoints Kati Ter Horst As President And CEO July 9 (Reuters) - Outokumpu Oyj OUT1V.HE : INSIDE INFORMATION: OUTOKUMPU APPOINTS KATI TER HORST AS PRESIDENT AND CEO OF OUTOKUMPU BEFORE ALIAXIS, MS. TER HORST HAD A LONG CAREER AT STORA ENSO, MOST RECENTLY LEADING PAPER DIVISION HAS TODAY APPOINTED KATI TER HORST AS PRESIDENT AND CEO A
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Citi upgrades Stora Enso to 'buy' on higher profit expectations

BUZZ-Citi upgrades Stora Enso to 'buy' on higher profit expectations ** Citigroup upgrades Stora Enso to "buy" from "neutral", saying the Finnish forestry firm's restructuring and cost-saving programme will support EBIT ** It notes Stora Enso's new management is focusing on profitability and shareholder returns ** The measures will add EUR 330 mill
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JPM starts Holmen at 'underweight' on below-peers mill timber EPS growth

BUZZ-JPM starts Holmen at 'underweight' on below-peers mill timber EPS growth ** J.P.Morgan initiates Swedish paper products maker Holmen HOLMb.ST with "underweight", saying its mill timber EPS growth is the lowest among peers ** It prefers Finland's UPM UPM.HE and Stora Enso STERV.HE , considering its broadly positive mill timber view on the secto
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Givaudan, National Grid, Schneider Electric

EUROPE RESEARCH ROUNDUP-Givaudan, National Grid, Schneider Electric June 18 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Givaudan, National Grid and Schneider Electric, on Tuesday. HIGHLIGHTS * Crest Nicholson Holdings Plc CRST.L : RBC raises target price to 250p from 175p * Givaudan SA GIVN.S : JP Morgan raises target price to CHF 4,200 from CHF 3,800 * National Grid NG.L : Barclays cuts target price to 1120p from 1365p * Schne
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