Sampo: Rises after stake cut in Nordea to focus on insurance

Sampo

11/11/2020 08:08

** Shares in Finnish financial group Sampo  SAMPO.HE  rise
6% after the company reduced its stake in Nordea  NDAFI.HE 
(-5%) in an attempt to focus on its insurance business
 urn:newsml:reuters.com:*:nL8N2HX1T7
    ** Sampo said on Tuesday the sale is in line with its
strategy to make its P&C insurance activities the core
operations for the group  urn:newsml:reuters.com:*:nASN000IEW
    ** The sale addresses our main concern about the group,
which was leverage, and strengthens solvency, Berenberg says
    ** This deal will likely make Sampo a favourite for
investors wanting to remain invested in Nordic insurance, the
brokerage adds
    ** Sampo shares wipe off year to date losses, rise to the
top of the Helsinki blue chips index  .OMXH20 

 ((boleslaw.lasocki@tr.com))