Swedish bank SEB was added on Friday to the conviction sell list at Goldman Sachs, which also downgraded Swedbank AB to neutral from sell. 
Share:  <span class="sent">Swedish bank SEB was added on Friday to the conviction sell list at <span class="analyst">Goldman Sachs</span>, which also downgraded <span class="company">Swedbank AB</span> to neutral from sell.</span> Tweet this 

Goldman Sachs Group Inc cut its recommendation on shares of Swedbank to "sell" from "neutral" and added SEB to its "conviction sell" list. 
Share:  <span class="sent"><span class="analyst">Goldman Sachs</span> Group Inc cut its recommendation on shares of <span class="company">Swedbank</span> to "sell" from "neutral" and added SEB to its "conviction sell" list.</span> Tweet this 

After announcing that it was canceling its 2009 bonuses, Swedbank, the lender based in Stockholm, is backtracking in the face of employee uproar. The bank will increase the salary of some employees, compensating for the cuts in variable remuneration, or bonuses, according the Web site of the Swedish financial daily Dagens Industri Altogether, the salary increase comes to about 40 million kronor, or $54 million, but will not be spread evenly among employees, according to the newspaper 
Share:  <span class="sent">After announcing that it was canceling its 2009 bonuses, <span class="company">Swedbank</span>, the lender based in Stockholm, is backtracking in the face of employee uproar. </span> The bank will increase the salary of some employees, compensating for the cuts in variable remuneration, or bonuses, according the Web site of the Swedish financial daily Dagens Industri Altogether, the salary increase comes to about 40 million kronor, or $54 million, but will not be spread evenly among employees, according to the newspaper Tweet this 

RESEARCH ALERT JP Morgan upgrades Swedbank SEB , Swedish banks: * JP Morgan raises Swedbank to overweight from neutral; price target .. Friday 30 .  
Share:  <span class="sent">RESEARCH ALERT JP Morgan upgrades <span class="company">Swedbank</span> SEB , Swedish banks: * JP Morgan raises <span class="company">Swedbank</span> to overweight from neutral; price target .. Friday 30 . </span> Tweet this 

"Financial markets are weak today, and Storebrand is performing better," ABG Sundal Collier analyst, Jan Erik Gjerland, said on the share price drop despite the strong results. First Securities analyst Nils Christian Oyen said an increased equity proportion largely explained the good results, adding that a one off gain of 51 million crowns from acquiring shares in advisory firm Formuesforvaltning helped lift it. "They have an underlying improvement ..compared to previous quarters as financial markets are normalising," he said. The company said an increased exposure to equities and a reduced hedging programme lifted the quarterly results. "We have had a hedging programme to protect our equity against falling share prices. 
Share:  <span class="sent">"Financial markets are weak today, and Storebrand is performing better," ABG Sundal Collier analyst, <span class="analyst">Jan Erik Gjerland</span>, said on the share price drop despite the strong results. </span> <span class="company">First Securities</span> analyst Nils Christian Oyen said an increased equity proportion largely explained the good results, adding that a one off gain of 51 million crowns from acquiring shares in advisory firm Formuesforvaltning helped lift it. "They have an underlying improvement ..compared to previous quarters as financial markets are normalising," he said. The company said an increased exposure to equities and a reduced hedging programme lifted the quarterly results. "We have had a hedging programme to protect our equity against falling share prices. ...<span class="sent">"Financial markets are weak today, and Storebrand is performing better," ABG Sundal Collier analyst, <span class="analyst">Jan Erik Gjerland</span>, said on the share price drop despite the strong results. </span> <span class="company">First Securities</span> analyst Nils Christian Oyen said an increased equity proportion largely explained the good results, adding that a one off gain of 51 million crowns from acquiring shares in advisory firm Formuesforvaltning helped lift it. "They have an underlying improvement ..compared to previous quarters as financial markets are normalising," he said. The company said an increased exposure to equities and a reduced hedging programme lifted the quarterly results. "We have had a hedging programme to pro Tweet this 

Swedbank, the largest bank in the Baltic countries, said growth in new loan losses in Estonia, Latvia and Lithuania has peaked after reporting its third consecutive quarterly loss. The third quarter net loss was 3.34 billion kronor ($483 million), compared with profit of 2.47 billion kronor a year earlier, Stockholm based Swedbank said Tuesday in a statement. That missed the median estimate of a 2.1 billion kronor net loss from nine analysts surveyed by Bloomberg News. 
Share:  <span class="sent"><span class="company">Swedbank</span>, the largest bank in the Baltic countries, said growth in new loan losses in Estonia, Latvia and Lithuania has peaked after reporting its third consecutive quarterly loss. </span> The third quarter net loss was 3.34 billion kronor ($483 million), compared with profit of 2.47 billion kronor a year earlier, Stockholm based <span class="company">Swedbank</span> said Tuesday in a statement. That missed the median estimate of a 2.1 billion kronor net loss from nine analysts surveyed by Bloomberg News. Tweet this 

local time, and have gained 86 percent so far this year. ‘As Anticipated' "Loan losses, down 16 percent quarter on quarter, were only as bad as the market had anticipated," Phuong Pham , an analyst at Standard & Poor's Equity Research in London, wrote in a note to clients, raising S&P's recommendation on Swedbank to "buy" from "hold" following the report. Swedbank said total loan losses and provisions rose to 6.12 billion kronor, from 812 million kronor a year earlier. In the Baltic countries the figure climbed eightfold to 3.33 billion kronor, from 405 million kronor. In the second quarter, loan losses and provisions in Baltic banking stood at 3.96 billion kronor. 
Share:  local time, and have gained 86 percent so far this year. <span class="sent"> ‘As Anticipated' "Loan losses, down 16 percent quarter on quarter, were only as bad as the market had anticipated," <span class="analyst">Phuong Pham</span> , an analyst at Standard & Poor's Equity Research in London, wrote in a note to clients, raising S&P's recommendation on <span class="company">Swedbank</span> to "buy" from "hold" following the report. </span> <span class="company">Swedbank</span> said total loan losses and provisions rose to 6.12 billion kronor, from 812 million kronor a year earlier. In the Baltic countries the figure climbed eightfold to 3.33 billion kronor, from 405 million kronor. In the second quarter, loan losses and provisions in Baltic banking stood at 3.96 billion kronor. ...local time, and have gained 86 percent so far this year. <span class="sent"> ‘As Anticipated' "Loan losses, down 16 percent quarter on quarter, were only as bad as the market had anticipated," <span class="analyst">Phuong Pham</span> , an analyst at Standard & Poor's Equity Research in London, wrote in a note to clients, raising S&P's recommendation on <span class="company">Swedbank</span> to "buy" from "hold" following the report. </span> <span class="company">Swedbank</span> said total loan losses and provisions rose to 6.12 billion kronor, from 812 million kronor a year earlier. In the Baltic countries the figure climbed eightfold to 3.33 billion kronor, from 405 million kronor. In the second quarter, loan losses and provisions in Baltic bank Tweet this 

Carl Eric Stalberg, chairman of Swedbank, told Svenska Dagbladet in an interview published Friday that stress tests conducted by the central banks, financial regulator and Swedbank itself had led the lender to make its second stock offering in eight months to ensure that it had enough capital to cushion it against the worst possible scenario. Mr. Stalberg's statement sheds more light on the bank's announcement this week that it would issue $2.1 billion in preferred stock, which Swedbank Chief Executive Michael Wolf had explained by saying the bank wanted to get away from the government guarantee program that currently allows it to borrow from other banks. Swedbank, the fourth argest lender in Sweden and the sixth largest in the Nordic region, has been hurt by the economic troubles in the Baltic states and eastern Europe, where it made many loans during the region's growth. 
Share:  <span class="sent">Carl Eric Stalberg, chairman of <span class="company">Swedbank</span>, told Svenska Dagbladet in an interview published Friday that stress tests conducted by the central banks, financial regulator and <span class="company">Swedbank</span> itself had led the lender to make its second stock offering in eight months to ensure that it had enough capital to cushion it against the worst possible scenario. </span> Mr. Stalberg's statement sheds more light on the bank's announcement this week that it would issue $2.1 billion in preferred stock, which <span class="company">Swedbank</span> Chief Executive Michael Wolf had explained by saying the bank wanted to get away from the government guarantee program that currently allows it to borrow from other banks. <span class="company">Swedbank</span>, the fourth argest lender in Sweden and the sixth largest in the Nordic region, has been hurt by the economic troubles in the Baltic states and eastern Europe, where it made many loans during the region's growth. Tweet this 

HSBC rose 2.5% after Goldman Sachs analysts upgraded their rating on the stock to "buy" from "neutral", saying the lender's troubled US unit would stop being a major drag on earnings earlier than expected. Swedbank jumped 8 percent a day after the bank surprised markets with a $2.1 billion rights issue to boost its balance sheet hit by bad debts in the Baltics, which triggered rating upgrades from a number of brokers. At 4:10pm, the FTSEurofirst 300 index of top European shares was up 1% at 930.72 points. The benchmark index, which has soared 44% since reaching a floor in March, tumbled 2% on Monday, falling along with stock markets around the world on concerns the market had gone ahead of the global economic recovery. "After such a rally, it's easy to be reluctant about further potential on the upside on equity markets," said Arthur van Slooten, European equity strategist at Societe Generale.  
Share:  HSBC rose 2.5% after Goldman Sachs analysts upgraded their rating on the stock to "buy" from "neutral", saying the lender's troubled US unit would stop being a major drag on earnings earlier than expected. <span class="company">Swedbank</span> jumped 8 percent a day after the bank surprised markets with a $2.1 billion rights issue to boost its balance sheet hit by bad debts in the Baltics, which triggered rating upgrades from a number of brokers. At 4:10pm, the FTSEurofirst 300 index of top European shares was up 1% at 930.72 points. The benchmark index, which has soared 44% since reaching a floor in March, tumbled 2% on Monday, falling along with stock markets around the world on concerns the market had gone ahead of the global economic recovery. <span class="sent"> "After such a rally, it's easy to be reluctant about further potential on the upside on equity markets," said <span class="analyst">Arthur van Slooten</span>, European equity strategist at Societe Generale. </span> Tweet this 

Swedbank, one of the largest Nordic lenders, announced Monday that it is issuing preferred stock to raise about $2.1 billion to shore up its core business as loan losses continue in the eastern Baltic. "The aim is to strengthen our competitive position in our four home markets; that is, Sweden, Estonia, Latvia and Lithuania," Michael Wolf, chief executive of the bank, said in a conference call Monday. Mr. Wolf said that the bank would be better able to support its key clients with the extra 15 billion kronor, and that the funds would help Swedbank return to independence, because to borrow from other banks, it presently depends upon a guarantee from the Swedish government. 
Share:  <span class="sent"><span class="company">Swedbank</span>, one of the largest Nordic lenders, announced Monday that it is issuing preferred stock to raise about $2.1 billion to shore up its core business as loan losses continue in the eastern Baltic. </span> "The aim is to strengthen our competitive position in our four home markets; that is, Sweden, Estonia, Latvia and Lithuania," Michael Wolf, chief executive of the bank, said in a conference call Monday. Mr. Wolf said that the bank would be better able to support its key clients with the extra 15 billion kronor, and that the funds would help <span class="company">Swedbank</span> return to independence, because to borrow from other banks, it presently depends upon a guarantee from the Swedish government. Tweet this