Europe Top News and Analysis Sweden

  • AstraZeneca said on Friday that U.S. health regulators had approved Seroquel XR, an extended-release version of one of its top-selling drugs, as a maintenance treatment for adult schizophrenia patients.

  • AstraZeneca has won U.S. approval to market its cholesterol-lowering drug Crestor to treat the clogging of arteries, which may boost sales of the blockbuster drug in an increasingly competitive market.

  • AstraZeneca profits fell 14 percent in the third quarter, hit by competition from cheap generics plus acquisition and restructuring charges, the Anglo-Swedish drugmaker said on Thursday.

  • Nordic stock exchange operator OMX said Wednesday its earnings rose 30 percent on growing trade revenue in the third quarter despite the uncertainty about the company's future ownership.

  • Sweden's Volvo posted a smaller-than-expected rise in quarterly pretax earnings on Wednesday, but was upbeat on demand in Europe while remaining confident about a recovery in the troubled U.S. market.

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    Electrolux reported third-quarter core earnings below market expectations on Monday and said uncertainty had increased over whether it would meet its outlook of somewhat higher full-year earnings.

  • Defense and aerospace group Saab on Friday posted third-quarter pretax earnings short of forecasts and said it expected overall 2007 growth would be in line with last year.

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    Shares in telecommunications equipment maker Ericsson lost nearly a quarter of their value Tuesday, after the company issued a drastic profit warning, saying third-quarter earnings would be well below expectations.

  • Hennes & Mauritz beat expectations with a 25% year-on-year rise in September sales, its second-strongest figure in five years, signaling a buoyant reception for its winter fashions and online shops.

  • Investor, the investment group controlled by Sweden's Wallenberg family, said Thursday it swung to a loss in the third quarter and cited the recent market turbulence and credit crisis stemming from the U.S. subprime lending morass.

  • Swedish fashion giant Hennes & Mauritz posted below-consensus third-quarter pretax profit on Wednesday due to weaker revenues than expected, but the company said sales in the fourth quarter had developed well.

  • Sweden's Financial Supervisory Authority (FI) said it would investigate to see if OMX used inappropriate defense measures after Borse Dubai launched an unsolicited bid for the exchange owner.

  • Norwegian financial group Storebrand on Monday announced a deal to buy Sweden's Handelsbanken's insurance and pensions subsidiary SSP for 18 billion Swedish kronor (1.9 billion euros; $2.65 billion), creating the Nordic region's leading life insurance and pensions provider.

  • Swiss-Swedish engineering company ABB said on Monday it had agreed to sell its Lummus Global business to Chicago Bridge & Iron Company (CB&I) for an enterprise value of $950 million.

  • State-run Borse Dubai violated Swedish takeover law in the run-up to a bid for exchange owner OMX but no action against the group is planned, a Swedish regulator said on Thursday.

  • U.S. exchange Nasdaq said it was talking to key shareholders in OMX to persuade them to accept a share-only bid for the Nordic exchange operator and that some had agreed, the Financial Times reported on Tuesday.

  • Borse Dubai launched a $4 billion cash offer for Nordic exchange owner OMX on Friday, trumping an agreed deal with U.S. exchange Nasdaq, in a bid to create a group with global reach.

  • The Swedish Financial Supervisory Authority said Thursday it has sent more questions to Borse Dubai regarding its share and option purchase in Nordic stock exchange operator OMX last week.

  • Hedge funds have acquired about 25% of OMX ahead of an expected takeover battle for the Nordic market operator between Nasdaq and Borse Dubai, the Financial Times reported.

  • Hennes & Mauritz said its sales in July rose 14% year-on year, while market expectations were for a 15.1% rise, according to a survey of analysts by SME Direkt.