The first intensive week of the earnings period resulted in positive surprises for several Nordic companies, even though a cocktail of macro economical concerns did its best to evaporate the early optimism.
Several of the Nordic cap companies, as Nokia and Autoliv not only exceeded the markets estimates. They could also point an increase in sales. The Swedish fashion company H&M and Danish Coloplast are other best practice examples that were praised by the market.
But in the middle of the earnings period, several macro economical concerns rocked the world’s stock exchanges. Discussions about exit strategies, Obama’s Reckless Risks’ of Big Banks”, and the fact that Chinese banks will be less generous with loans in 2010 created waves of worry in the global financial sector.
This week the Nordic financial sector will be in the spotlight. The outcome of Danske Bank’s annual result for 2009 on Thursday 4 February will probably give a hint of what we can expect from Swedbank, Nordea and DnB Nor that have their earnings calls in the second week of February.