Nordic Short Report - Week 23 2016

Nordic short report - Week 23 2016 – NAS short interest down to 3 year low

Conclusion
Nordic short interest (SI) up ~30bp last week to 5.3%

Our analysis 

• Short interest in Norway down this week
  o Abating dividend season lowers SI in YAR, STL, NAS, DNB and TEL more than 200bp
  o … while SI in SCH and SDRL both rose ~175bp this week

• Minor changes in sector rankings as
  o Three most shorted sectors:

  •  Semicond. & semi. equip.: 15.4%
  •  Energy: 9.2%
  •  Utilities: 9.2%

    o Three least shorted sectors:

  •  Consumer Durables: 0.6%
  •  Banks: 1.2%
  •  Com. & Prof. Services: 0.4%
• SI in Norway down WoW to 7.8% 

    o Norway SI -60bp
    o Sweden SI +149bp
    o Denmark SI -1bp
    o Finland SI -2bp

Andre nyheter