0928 GMT - The impact of lower interest rates in the fourth quarter sees a continuation of the challenging operating environment for Nordic banks, Jefferies analyst Alexander Demetriou writes. "On the macro front, economic sentiment remains weak, and we await an economic recovery in Sweden." Jefferies lowers its EPS estimates by 1%-3% on average across the sector on lower interest-rate assumptions. The bank continues to see better value elsewhere in a European banking context. Nordea remains its only buy-rated stock among the Nordic banks. Nordea shares falls 0.6% to 10.88 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 04:28 ET (09:28 GMT)
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