Nordic Short Report - Week 15 2016

Nordic short report - Week 15 2016 – NAS and NOD short interest down last month

Conclusion
Nordic short interest (SI) unchanged last week at 5.6%

Our analysis

• Norwegian SI down last week
o SI in GJF and TEL both rose more than 100bp this week but the first due to dividend season
o … while SI in Opera and SUBC fell more than 100bp

• Unchanged Nordic sector rankings
o Semiconductor & semi. equipment sector remains most shorted at 15.5%
o The three least shorted are the “three usual suspects” (Commercial and prof services, banks and diversified financials)
o Notice long term patterns in sector short interest!

• SI in Norway almost unchanged WoW to 7.7%
o Norway    SI +6bp
o Sweden   SI +33bp
o Denmark  SI -29bp
o Finland    SI -31bp


FULL REPORT

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