Denmark is shelving indefinitely its euro adoption goal as Prime Minister Helle Thorning-Schmidt says an exchange rate peg without full European monetary membership is proving the best currency regime for the Nordic nation.
Austrian banks will struggle to strengthen their “moderate” capital buffers because profits are weighed down by bad debt and slow growth, and they may have to sell shares or shed assets, Standard & Poor’s said.
Stockmann Oyj said full-year profit will miss forecasts as a recession in the northernmost country using the euro hurt the Finnish department-store owner’s first- quarter sales. The shares fell to a four-year low.
The Nordic countries could establish a system of mutual recognition of bank capital requirements for exposures incurred in a neighboring country, the Nordic finance ministries said today in a statement on the Norwegian Finance Ministry’s website.
Nobia AB rose to its highest level in almost three weeks in Stockholm trading after Swedbank AB advised clients to buy shares in the maker of kitchen interiors amid a potential rebound in its Swedish and U.K. markets.
The number of Easter-weekend shoppers in London’s West End jumped 15 percent as the pound’s exchange-rate drop helped attract American and European buyers, more than offsetting a cold snap that kept Britons away.