Latest news with #NordeaMarkets
Business Insider
2 days ago
- Business
- Business Insider
Hemnet Group AB (8QV) was downgraded to a Sell Rating at Nordea Markets
In a report released yesterday, from Nordea Markets downgraded Hemnet Group AB (8QV – Research Report) to a Sell, with a price target of SEK249.00. The company's shares closed yesterday at €24.82. Confident Investing Starts Here: Hemnet Group AB has an analyst consensus of Hold, with a price target consensus of €33.52. Based on Hemnet Group AB's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €328.5 million and a net profit of €102.9 million. In comparison, last year the company earned a revenue of €253.4 million and had a net profit of €72.4 million
Local Norway
5 days ago
- Business
- Local Norway
What the weakening of the dollar against the krone means for Norway
In January, 1 dollar traded at 11.5 kroner. This week, it was at 10.1 kroner – and currency analysts expect the dollar's weakening to continue. READ MORE: How the latest trade war developments have affected the Norwegian krone A steady decline Norwegian strategists cite several drivers behind the dollar's decline, many of which are tied to US policy under President Donald Trump. Senior Strategist at Sparebank 1 Markets, Dane Cekov, highlighted several key factors: President Trump's tariffs could dampen US economic growth, the effect of expansive tax cuts on public debt, raising concerns among investors, and proposed changes to taxation on foreign investment. "I think more people will question being so exposed to the US," Cekov told the business newspaper e24 . "The combination of these... factors will result in a weaker dollar in the future." Advertisement Long-term prospects Several other Norwegian financial analysts share this view. The dollar is likely to remain under pressure for several years, driven by growing caution among international investors, according to Lars Mouland at Nordea Markets. "The country has large budget deficits and is dependent on a lot of money from the rest of the world," Mouland told the newspaper. Nils Kristian Knudsen of Handelsbanken added that a weaker dollar aligns with Trump's own long-term preferences, though he warned that sharp, fast movements – rather than gradual shifts – could create instability. READ ALSO: What are the US tariffs on Norway, and how could they affect you? What all this means for Norwegian consumers While still strong by historical standards, the dollar could weaken further – possibly reaching 9 kroner in the coming years. But what does this currency shift mean for everyday Norwegian consumers? For most people living in Norway, a weaker dollar typically brings some positive short-term effects. Advertisement Holidays to the United States, online shopping from American websites, and dollar-denominated goods and services become more affordable. If the dollar continues to weaken, as Cekov and other analysts expect, this could also help lower prices on a range of imported goods, such as electronics – though global supply chains and shipping costs also play a role. Bad news for Norwegian exporters On the flip side, a stronger krone relative to the dollar hurts Norwegian exporters. Companies that sell goods or services priced in US dollars, such as in the oil, seafood, and maritime sectors, receive less in kroner for every unit sold abroad. When the dollar's value drops, their earnings – once converted back into Norwegian currency – decline. Advertisement What comes next? While there is a consensus in Norway at the moment that the dollar may weaken further, experts caution that it won't be a straight path. Currency movements are influenced by interest rates, investor sentiment, global economic trends, and political developments. For Norwegian consumers, the bottom line is this: your kroner now go further in dollar markets, but the strength of the krone could also affect jobs and earnings in Norwegian export-heavy industries. READ MORE: What Norway is doing to prepare for the upcoming tariff war
Business Insider
31-05-2025
- Business
- Business Insider
Systemair AB (52SA) was downgraded to a Hold Rating at Nordea Markets
Systemair AB (52SA – Research Report) received a Hold rating and price target from Nordea Markets analyst today. The company's shares closed yesterday at €8.65. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Systemair AB has an analyst consensus of Moderate Buy, with a price target consensus of €10.25. The company has a one-year high of €8.72 and a one-year low of €6.01. Currently, Systemair AB has an average volume of 500.
Local Norway
24-03-2025
- Business
- Local Norway
Interest rate uncertainty boosts Norway's weak krone
Norway's krone has weakened against the dollar, euro, pound and most other major currencies over the past few years. However, it has begun to increase in strength recently. On Monday, a euro traded for 11.36 kroner, the strongest Norwegian krone has been against the euro since June 2024. Meanwhile, the krone was at the strongest it has been against the US dollar since September 2024. Analysts have linked the krone's strengthening against the dollar to uncertainty around growth in the US, and fears of a tariff war between the US. However, economists also believe some of the strengthening is due to uncertainty with the key policy rate in Norway. Higher than forecast inflation figures for February have cast doubt on whether interest rates could be lowered on Thursday, March 27th, by the central bank. 'The fact that the krone has strengthened even more, especially against the euro, is probably due to the fact that the market does not expect any significant interest rate cuts anytime soon. No cut has been priced in before September,' currency strategist Sara Midtgaard at Nordea Markets told business and financial site E24 . Furthermore, the krone could continue to strengthen further if the central bank presents a new interest rate path on Thursday, she said. Norway had been using interest rate increases to curb inflation and prevent the economy from overheating. Between 2021 and 2023, the key policy rate rose from 0 percent to 4.75 percent. The central bank had set a rough inflation target of two percent, and earlier this year said that a cut was likely to arrive in March. However, the country's Consumer Price Index was measured at 3.6 percent between February 2024 and the same month this year. Advertisement Since then, economists have warned that inflation figures could mean that any key interest rate cuts would be unlikely to arrive until the autumn or winter. Higher interest rates are good for the Norwegian krone as they make the currency more attractive for investors, which is why the currency has been boosted by uncertainty surrounding the key policy rate. In the longer term, analysts believe that Norway's krone could continue to strengthen. Bank HSBC recently wrote that the factors that had pushed down the Norwegian krone in recent years had stabilised. READ ALSO: Analysts predict Norway's krone could make up lost ground on the euro and US dollar Midtgaard said tax cuts in the US could actually mean the US dollar strengthens against the krone in the short term, but in the longer term, the krone could continue to strengthen against the euro and dollar beyond 2026.
Local Norway
03-03-2025
- Business
- Local Norway
Economists warn trade war could slow Norway's interest rate cuts
Norway is expected to announce a rate cut on March 27th, and economists had previously predicted between two and four rate cuts in the Nordic country in 2025. The country's minister of finance, former PM, and former Nato chief, Jens Stoltenberg, recently warned that a trade war was about to break out in full, and economists have told the business newspaper E24 that this would dampen the interest rate outlook. The reason for this is that US President Donald Trump's tariffs could weaken the struggling Norwegian krone further. 'This clearly points towards fewer interest rate cuts because a weaker krone leads to higher inflation,' Kjetil Olsen, chief economist at Nordea Markets, told E24. 'Tariffs from the US against other countries result in a weaker krone and higher interest rates here at home. If the EU responds and there is a tariff war, global growth could weaken,' he added. Norway's key policy rate currently sits at 4.5 percent after a series of aggressive raises between 2021 and 2023 to try and bring down inflation. At this point, it was unlikely that the planned rate cut in March could be affected by tariffs, but it could mean there is only a cut in 2025. 'It's not certain that there will be more cuts than in March,' Olsen said. Marius Gonsholt Hov, chief economist at Handelsbanken, said that there may be fewer cuts than the three to four signalled by Norges Bank, but that Norway's economy was holding up well generally. 'There is a risk of fewer cuts, yes. The important thing is whether there will be tariffs and increased inflation. We assume that, but the question is whether the real economy in Norway will be affected by this. The Norwegian economy is doing quite well today, with lower unemployment than expected and strong growth in disposable real income. There is also momentum in consumption,' he said.
