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UPM-Kymmene


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European companies cut jobs as economy sputters

FACTBOX-European companies cut jobs as economy sputters Adds details on fresh job cuts July 9 (Reuters) - Elevated levels of inflation and the impact of the war in Ukraine have forced companies across Europe to freeze hiring or cut jobs. Here are some layoffs announced since the start of April: BANKS * TSB: The British bank owned by Spain's Sabadell SABE.MC is seeking 250 job cuts and 36 branch closures, its spokesperson and employee union said on May 8. INDUSTRIALS AND ENGINEERING * METSO METSO
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Top of the Street: Kingfisher, Naturgy, paper & packaging firms

BUZZ-Top of the Street: Kingfisher, Naturgy, paper & packaging firms A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** RBC raises Naturgy NTGY.MC to "sector perform" from "underperform" following a stock price correction after TAQA and Criteria dropped a plan to jointly bid for the Spanish utility ** Deutsche Bank raises British home improvement retailer Kingfisher KGF.L to "buy" from "hold", citing "robust" income growth, increased consumer confidence, po
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Stifel starts UPM with 'buy' amid rising wood costs in Nordics

BUZZ-Stifel starts UPM with 'buy' amid rising wood costs in Nordics ** Stifel initiates UPM-Kymmene UPM.HE with "buy" rating, while it rates the Finnish forestry firm's Nordic peers with "hold" ** Stifel notes UPM's strong balance sheet and improved revenue mix, adding that the company has managed the decline in graphic paper by closing and selling
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UPM And Nokian Tyres Partner

BRIEF-UPM And Nokian Tyres Partner June 27 (Reuters) - UPM-Kymmene Oyj UPM.HE : UPM AND NOKIAN TYRES PARTNER TO INTRODUCE FIRST CONCEPT TIRE WITH UPM BIOMOTION TM RENEWABLE FUNCTIONAL FILLERS Source text for Eikon: ID:nWkr7n7fWD Further company coverage: UPM.HE (Gdansk Newsroom)
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JPM starts Holmen at 'underweight' on below-peers mill timber EPS growth

BUZZ-JPM starts Holmen at 'underweight' on below-peers mill timber EPS growth ** J.P.Morgan initiates Swedish paper products maker Holmen HOLMb.ST with "underweight", saying its mill timber EPS growth is the lowest among peers ** It prefers Finland's UPM UPM.HE and Stora Enso STERV.HE , considering its broadly positive mill timber view on the secto
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Abrdn Plc, Crest Nicholson Holdings, Paragon Banking

EUROPE RESEARCH ROUNDUP-Abrdn Plc, Crest Nicholson Holdings, Paragon Banking June 13 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Abrdn Plc, Crest Nicholson Holdings and Paragon Banking, on Thursday. HIGHLIGHTS * Abrdn Plc ABDN.L : Jefferies assumes coverage with hold rating; price target 155p vs 180p * Crest Nicholson Holdings Plc CRST.L : Jefferies raises target price to 265p from 237p * Frontier Developments Plc FDEV.L : Deut
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UPM Plans To Close Two Units In Germany

BRIEF-UPM Plans To Close Two Units In Germany May 29 (Reuters) - UPM-Kymmene Oyj UPM.HE : PLANS TO REDUCE GRAPHIC PAPER CAPACITY IN GERMANY TO ALIGN WITH CUSTOMER DEMAND AND ENSURE COMPETITIVENESS IF REALIZED, MEASURES WOULD RESULT IN ANNUAL REDUCTIONS OF 330,000 TONNES OF NEWSPRINT PAPER CAPACITY AND 280,000 TONNES OF UNCOATED FINE PAPER CAPACITY
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Finnish forestry group UPM to close two units in Germany

UPDATE 2-Finnish forestry group UPM to close two units in Germany Adds quote, detail on units in paragraphs 3-6 COPENHAGEN, May 29 (Reuters) - Finnish forestry group UPM UPM.HE said on Wednesday it would close a newsprint mill and a fine paper machine in Germany, affecting 345 jobs overall, citing a decline in graphic paper demand and a significant overcapacity in the market.
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Finnish forestry group UPM to close two units in Germany

Finnish forestry group UPM to close two units in Germany COPENHAGEN, May 29 (Reuters) - Finnish forestry firm UPM UPM.HE said on Wednesday it would close a newsprint mill and a fine paper machine in Germany, affecting 345 jobs overall, citing a decline in graphic paper demand and a significant overcapacity in the market. Reporting by Louise Breusch
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Forestry firm Stora Enso lifts 2024 outlook as orders, prices rise

UPDATE 2-Forestry firm Stora Enso lifts 2024 outlook as orders, prices rise Adds shares in lead, comment in paragraph 5, context in paragraphs 6-7 May 15 (Reuters) - Finnish forestry firm Stora Enso STERV.HE raised its full-year core profit forecast on Wednesday, lifting its shares by 3%, as it said it expected improved volumes and orders as well as increasing pulp prices.
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Adidas, HSBC, Renishaw

EUROPE RESEARCH ROUNDUP-Adidas, HSBC, Renishaw May 1 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Adidas, HSBC and Renishaw on Wednesday. HIGHLIGHTS * Adidas AG ADSGn.DE : Wedbush raises target price to EUR 233 from EUR 200 * Darktrace DARK.L : HSBC raises target price to 620p from 540p * Essity AB (Publ) ESSITYb.ST : HSBC resumes with buy rating; price target SEK 330 * HSBC HSBA.L : Berenberg raises target price to 830p from 80
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UPM shares rise after earnings beat, end of destocking

BUZZ-UPM shares rise after earnings beat, end of destocking ** Shares in Finnish forestry firm UPM UPM.HE rise 4% after it beat earnings expectations in Q1 ** Its comparable EBIT of EUR 333 million came in ahead of the IBES estimate of EUR 263.9 million, guidance remained unchanged ** UPM also flagged that destocking was largely over ** J.P.Morgan
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Finnish forestry firm UPM tops Q1 profit expectations

Finnish forestry firm UPM tops Q1 profit expectations April 25 (Reuters) - Finnish forestry group UPM-Kymmene UPM.HE posted first-quarter core profit above market expectations on Thursday, saying demand had improved after clients finished trimming their inventories. Reporting by Boleslaw Lasocki in Gdansk; Editing by Milla Nissi
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Forestry firm Stora Enso sees gradual market recovery in 2024

UPDATE 2-Finnish forestry firms top profit forecasts as destocking ends Adds UPM results, comments, shares By Reporting by Boleslaw Lasocki April 25 (Reuters) - Finnish forestry firms Stora Enso STERV.HE and UPM-Kymmene UPM.HE reported first-quarter earnings clearly above expectations on Thursday as clients finished trimming their inventories. "The destocking that characterised last year was over for all our businesses," UPM CEO Massimo Reynaudo said about the first-quarter results that were boo
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Price rises may boost paper & packaging firms' outlooks, JPM says

BUZZ-Price rises may boost paper & packaging firms' outlooks, JPM says ** Recent price increases in pulp and containerboard raise the chance for upward guidance revisions from paper and packaging names, J.P.Morgan says ** JPM downgrades SCA SCAb.ST to "underweight" from "neutral", saying that in order to justify the current valuation, it would need
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