|Bid||157.70 x 327700|
|Ask||157.80 x 246400|
|Day's Range||155.90 - 158.80|
|52 Week Range||135.50 - 174.20|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||9.96|
|Earnings Date||Jul 11, 2019|
|Forward Dividend & Yield||8.25 (5.32%)|
|1y Target Est||169.97|
(Bloomberg) -- Terms of Trade is a coming daily newsletter that untangles a world embroiled in trade wars. Sign up here. Norges Bank is busy building a reputation as one of the world’s most hawkish central banks as it delivers its third interest-rate hike since September and signals there’s more to come.Governor Oystein Olsen said that, given the “balance of risks,” the key rate “will most likely be increased further in the course of 2019,” in a statement on Thursday. The deposit rate was raised by a quarter point to 1.25%, as expected.The krone surged 1% against the euro, its strongest gain since March. Against the dollar, the krone was up about 1.5%.Norges Bank is now “the sole hawk in town,” said Kristoffer Lomholt, a senior analyst at Danske Bank. “The next hike more likely than not will come already in September,” while rates markets had priced Thursday’s increase “as the final hike in the cycle,” which explains the “big market reaction,” he said.In an interview after the decision, Olsen said there was a likelihood the bank may raise rates again in September, and that another hike might follow “before the summer” next year. He also stressed that the outlook could change.Norway’s economy, which is backed by the world’s biggest sovereign wealth fund, is starting to show signs of overheating after a surge in oil investments. With the economy running at full speed, the bank has made clear there’s no room for the kind of extreme monetary stimulus that’s dominated since the global crisis of 2008. The message is very different from that of the European Central Bank and the Federal Reserve, which have both embraced continued stimulus.“We are following what’s happening in the major economies very closely, what they are signaling will affect us, and will affect the economy,” Olsen said in an interview on Bloomberg TV. “But I do agree that we are in a better situation. Its a smaller economy, we have this engine in the petroleum sector which provides a boost to growth and overall demand in the next couple of years.”Norges Bank revised up its inflation forecast on Thursday and now sees price growth above the 2% target through 2022. It raised its outlook for mainland economic growth next year to 1.9% after an expansion of 2.6% this year.“While most other central bankers are discussing rate cuts or new quantitative easing programs amid weaker global growth and political uncertainty, Norway’s central bank is raising its rates for the third time within a year!” Frederik Engholm, chief strategist at Nykredit, wrote in a tweet.ECB, FedOn Tuesday, ECB President Mario Draghi sent bond yields plunging across Europe, as he told markets that additional stimulus will be needed “in the absence of any improvement” to the outlook for growth and inflation.On Wednesday, the Federal Open Market Committee said that, in light of increased uncertainties and muted inflation pressures, it “will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion.”In Norway, meanwhile, unemployment has stabilized below 4% and inflation is running above target. And thanks to a weak krone, the central bank has room to raise rates without hurting exports.Olsen said that rates are still very low from a historical perspective and that policy is still expansionary.“And we focus and stress that there is a kind of downside risk in our assessment of international developments, which is also a good reason for being cautious,” he said.Economists at DNB ASA, Norway’s largest bank, on Thursday cast doubt on that the bank will be able to raise again already in September.“We expect the trade war to escalate and still think September is a little early,” said Kyrre Aamdal, an economist at DNB.(Adds comments from Olsen throughout.)\--With assistance from Guy Johnson and Tom Keene.To contact the reporter on this story: Sveinung Sleire in Oslo at email@example.comTo contact the editors responsible for this story: Jonas Bergman at firstname.lastname@example.org, Tasneem Hanfi Brögger, Christian WienbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Rating Action: Moody's changes rating outlook to stable from negative for seven Norwegian banks and a covered bond company. Global Credit Research- 03 Jun 2019. Outlook change triggered by upcoming MREL ...
Nasdaq withdrew its offer for Oslo Bors on Monday, giving pan-European exchange Euronext free rein to pursue its bid for the Norwegian stock market operator after a five-month battle. Euronext secured approval from Norway's Ministry of Finance this month to buy more than 50% of Oslo Bors for 158 Norwegian crowns per share, effectively blocking Nasdaq's bid. Both had valued one of Europe's few independent stock market operators at around 6.8 billion Norwegian crowns (615.81 million pounds).
OSLO (Reuters) - Norway will allow Euronext to take a majority stake in Oslo Bors VPS, the country's finance ministry said on Monday, confirming an earlier statement by Euronext. The decision effectively ...
The Nordic region's six major banks are joining forces to set up a customer checking centre to crack down on money launderers, part of efforts to recover from a scandal that has shaken confidence in the finance industry. Danske Bank and Swedbank have lost billions from their market value after becoming embroiled in a money laundering scandal involving their businesses in the Baltics. The banks have promised to take steps to rectify shortcomings, such as their planned joint venture with rivals Handelsbanken, Nordea, SEB and DNB to perform common customer checks.
Norwegian banking group DNB's asset management arm has overcharged fund investors and must compensate around 180,000 customers, an appeals court ruled on Thursday, in what was billed as a test case for the industry. Based on the judges' guidelines, DNB will have to pay out a total of around 345 million Norwegian crowns (30.4 million pounds)in compensation, according to calculations by Norway's Consumer Council, which pursued the case on behalf of investors. DNB was not immediately available to comment on the level of compensation.
DNB, Norway's largest bank, reported a smaller-than-expected top-line growth for the first quarter on Friday, but said a recent rate hike by the central bank would have a positive impact from the second quarter onwards. "The Norwegian economy has got off to a flying start in 2019.
Attention dividend hunters! DNB ASA (OB:DNB) will be distributing its dividend of øre8.25 per share on the 10 May 2019, and will start trading ex-dividend in 3 days time on the 02 May 2019. What does this mean for current sharehold...
The Norwegian government does not currently plan to introduce maximum interest rate levels for small, short-term consumer loans, it said in an annual review of the banking industry on Friday. "This ...
PARIS/OSLO (Reuters) - Stock market operators Euronext and Nasdaq, both vying for the control of Norway's Oslo Bors, have been deemed fit and proper owners by the Norwegian financial supervisory authority, the finance ministry said. The verdict leaves it to the government to decide the outcome of the battle for control of one of the last independent stock market operators in northern Europe, which began when Euronext made a first, unsolicited move in December. The Norwegian bourse's response was to seek new bidders, encouraging U.S.-based Nasdaq to make a rival offer.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not...
Several banks operating in Norway made insufficient anti-money laundering risk assessments last year, the country's Financial Supervisory Authority (FSA) said in its annual report on Friday. While the FSA listed the banks that had been inspected, its report did not say which were found to have shortcomings. Last November, the FSA criticised DNB, Norway's largest bank, for not having sufficient systems in place to combat money laundering.
Several banks operating in Norway made insufficient anti-money laundering risk assessments last year, the country's Financial Supervisory Authority said in its annual report on Friday. While the FSA listed ...
One simple way to benefit from the stock market is to buy an index fund. But if you buy good businesses at attractive prices, your portfolio returns could exceed theRead More...
Nordea, the Nordic region's largest bank, handled 700 million euros (£602.3 million) in suspicious transactions between 2005 and 2017, Finnish broadcaster Yle reported on Monday, citing leaked documents. Yle, part of a group of media companies working on wider allegations of money laundering in the Baltics linked to Russia, said the money originated from companies registered in tax havens such as the British Virgin Islands, Panama or Belize. The leak did not reveal if Nordea, whose Nordic rivals Swedbank and Danske Bank face allegations over a money-laundering scandal in Estonia, had reported the alleged suspicious transactions to authorities, Yle said.
Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! DNB ASA's (OB:DNB) most recent earnings announcement in December 2018Read More...
OSLO (Reuters) - Norwegian bank DNB still plans to sell its 20-percent stake in stock market operator Oslo Bors VPS to Nasdaq, despite a higher bid by Euronext, the bank said on Monday. "We've committed ...
OSLO (Reuters) - Oslo Bors VPS remains convinced that Nasdaq would be the best owner of the Norwegian stock market operator, despite Euronext's higher bid, Oslo Bors Chief Executive Bente Landsnes told ...
DNB, Norway's largest bank, reported lower-than-expected fourth-quarter earnings on Thursday while boosting its full-year dividend. The company's pre-tax profit before impairments rose to 7.32 billion Norwegian crowns (£662.4 million) from 7.26 billion a year ago, lagging the average forecast of 7.58 billion in a Reuters poll of analysts. DNB plans to pay a 2018 dividend of 8.25 crowns per share, up from 7.10 crowns the previous year, while analysts on average had expected a payout of 7.90 crowns.
HELSINKI/STOCKHOLM (Reuters) - Nordea, the Nordic region's biggest bank, reported a 6 percent drop in fourth-quarter revenue on Wednesday, dashing analysts' hopes of an improvement and overshadowing a smaller-than-expected fall in operating profit thanks to cost cutting. Interest income, the bank's most important income line, has been under pressure over the past year due to fierce competition in mortgages and household loans across the region, while Nordea has been preoccupied with bringing down spending. Nordea shares were down 2.0 percent at 0832 GMT while those of rival Handelsbanken, which separately proposed a much lower dividend than expected, tumbled 4.8 percent, with both stocks underperforming the European banking index.