Nordea falls on share buyback delay
** Nordea's NDAFI.HE shares slip 3.5% as the Finnish banksaid it would not resume a share buyback before early 2025, after reportingQ2 results broadly in line
** Its Q2 net profit of EUR 1,303 million came in 1% above consensus cited by analysts
** The lendersaid it is in dialogue with ECB about initiating a share buyback and expects to conduct it in early 2025, which Jyske Bank and J.P.Morgan both point out as a disappointment
** JPM adds Nordea expects about 40bps CET1 impact from the pending Danske acquisition, implying estimated pro-forma CET1 of only 15.1% vs. ~15% target, which it says is one of the factors weighing on the share
** If losses hold, the stock will seeits worst day in nearly four months
Reporting by Agata Rybska
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