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UBS has increased its target price for DNB to 207 NOK from 197 NOK while maintaining a sell position. DNB Bank ASA, Norway's leading financial group, generates net banking income primarily from investment banking (61.7%) and retail banking (35.2%). As of the end of 2023, the group reported 1,422.9 billion NOK in deposits and 1,997.4 billion NOK in loans outstanding.
UBS has raised its target price for DNB to 207 Norwegian kroner, maintaining a 'sell' rating. DNB Bank ASA, Norway's leading financial group, derives 61.7% of its revenue from corporate banking, 35.2% from retail banking, and 3.1% from other services. As of the end of 2023, the group reported NOK 1,422.9 billion in current deposits and NOK 1,997.4 billion in current credits.
Tokyo Metro's shares surged 45% in a remarkable market debut, raising 348.6 billion yen ($2.3 billion) and marking Japan's largest IPO in six years. Meanwhile, Starbucks suspended its 2025 guidance amid declining sales for the third consecutive quarter, and Tupperware agreed to a lender takeover, abandoning plans for an asset auction. Norway’s sovereign wealth fund reported a third-quarter profit of 835 billion Norwegian kroner ($76.3 billion).
U.S. markets showed mixed results, with the S&P 500 and Dow slightly down while the Nasdaq rose 0.18%. Global inflation is projected to decrease, but growth remains modest at 3.2% for 2024-2025. General Motors surged nearly 10% after exceeding earnings expectations, while Norway's sovereign wealth fund reported a $76 billion profit. As the U.S. presidential election approaches, market dynamics may shift, prompting investors to be selective in stock trading.
Norway's sovereign wealth fund reported a third-quarter profit of 835 billion kroner ($76.3 billion), driven by a stock market surge due to falling interest rates. The fund's value reached 18.870 trillion kroner, with a 4.4% overall return, slightly below its benchmark. Despite positive returns across investment areas, heightened global risks were noted amid a shifting geopolitical landscape.
Norway’s largest lender, DNB Bank ASA, reported a 2.6% increase in net interest income for the third quarter, reaching 16.13 billion Norwegian kroner ($1.5 billion), surpassing analysts' expectations of 15.87 billion kroner. This growth was driven by rising loan demand across all customer segments.
UBS has reiterated a positive stock rating for Nordea Bank Abp, which operates across four main business areas: personal banking (38.9% of income), business banking (29.2%), institutional banking and large enterprises (20.2%), and asset and wealth management (11.7%). Geographically, the bank's income distribution is as follows: Finland (24.9%), Sweden (27.3%), Denmark (26.5%), Norway (17.5%), and other regions (3.8%).
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ubs raises dnb target price to 207 nok maintains sell position
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