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Europe Top News and Analysis Sweden

  • Mobile phone maker Sony Ericsson posted sharply lower profits on Wednesday as a slowdown in consumer spending hit its business, but earnings were at the high end of the firm's range and exceeded market expectations.

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    France's Pernod Ricard won a hotly contested auction on Monday to buy the maker of Sweden's Absolut vodka for 5.63 billion euro ($8.87 billion), beating favourite Jim Beam bourbon-maker Fortune Brands.

  • Sweden's Handelsbanken said on Monday it had decided to close down its proprietary trading in foreign exchange and fixed income in New York and sold off a large part of its exposure to U.S. asset-backed securities.

  • Swedish fashion company Hennes & Mauritz bucked a gloomy economic backdrop and boosted its shares with a near 20 percent jump in first-quarter profit, above forecasts and fired by strong February sales.

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    Swedish fashion giant Hennes & Mauritz reported on Friday a 3 percent rise in January sales at stores open more than a year, lagging market expectations.

  • TeliaSonera reported unexpectedly weak earnings on Friday and said it planned to cut 2,900 Nordic staff as part of an efficiency drive to reach a promised 5 billion Swedish crown ($775 million) savings target.

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    Electrolux, the world's second-biggest home appliances maker, reported quarterly earnings above market expectations on Wednesday and forecast 2008 core income in line with 2007, sending its shares up.

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    World number-two truck maker Volvo posted a smaller-than-expected rise in fourth-quarter pretax profit on Wednesday, hitting its shares, but said itstill saw firm growth in its key European market.

  • Ericsson reported a lower-than-expected quarterly profit Friday, sending its shares 2.7 percent down, while company CEO Carl-Henric Svanberg told "Power Lunch Europe" the outlook for the year ahead is largely flat.

  • Swedish clothing giant Hennes & Mauritz posted fourth-quarter pretax profit short of analysts' expectations on Thursday and said its December sales in stores open more than a year fell 1 percent.

  • Swedish fashion chain Hennes & Mauritz said on Monday its sales rose 14 percent in November year-on-year, lower than expected by analysts, but aided by a collection from Italian designer Roberto Cavalli.

  • 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.