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NOK181.35 0.1  0.1%

Last Trade - 06/05/21

Sector
Financials
Size
Large Cap
Market Cap £24.48bn
Enterprise Value £56.71bn
Revenue £5.06bn
Position in Universe 31st / 1838

BUZZ-Nordic Banks: UBS sees sector well positioned for new reality

Tue 24th March, 2020 10:07am
** UBS upgrades Norwegian Bank DNB  DNB.OL  and Swedish Bank
SHB  SHBa.ST  to "neutral" from "sell" after recent share price
declines
    ** The brokerage says Nordic banks are well placed to
weather the downturn, but need to see further drops in share
prices or stabilization in the macro outlook to be more positive
    ** Adds that uncertainty around the macroeconomic
implications of the COVID-19 outbreak, material central bank
intervention and the oil price decline makes earnings forecasts
subject to above-average uncertainty
    ** "Timing is difficult, and we are aware we risk being
early, but given our forecasts we think selective exposure in
Nordic banks is attractive," the brokerage adds 
    ** Danske Bank  DANSKE.CO  and Swedbank  SWEDa.ST  (both
"buy") remains top picks for UBS

 ((Tommyalexander.lund@thomsonreuters.com))
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