The worlds fourth largest producer of paper, Norske Skog, reports a net loss of NOK 1,4bn in 2009, compared to net losses of NOK 2,7bn last year. The Norwegian company say that they are expecting “somewhat improved demand in the course of 2010,” but also “increased cost on certain input factors expected.”
“The present price level in Europe not sustainable.”
The figures were presented at Knight Libertas Credit Conference i London, Thursday, but not made public until the stock market in Oslo had closed. The company have made significant progress in the process of reducing its cost and the heavy debt burden that’s been haunting the Norwegian paper giant over the last years. It’s a great set-up for Friday’s trading at Oslo Stock Exchange.
Norske Skogindustrier is the worlds fourth largest producer of paper and the second largest supplier to the newspaper industry.
The company’s shares also weight heavy in the Oslo benchmark Index, so this could very well be one of the market movers in Fridays trading.
If the stock is massively shorted, we could get a squeeze that could push the share price up by double digits.
But this is for the day traders to figure out.
Here’s a copy of the presentation.
The stage is set for an interesting play in the Norwegian stock market, Friday.
Check out the activity in the derivative market.
The price of a NSG call option is up, 6,76%.
Well, you got 10 hours to place your bets.
Disclosure: No position