DnB NOR jumps on government stimulus plans

Shares in Norway’s biggest bank group DnB NOR (DNBNOR.OL) rise 9.8 percent on mounting expectations for a favourable government stimulus package, which is due out this Sunday.

Norway’s main financial sector lobby has said it hopes the package would be worth up to 80 billion crowns ($11.68 billion), but the government has kept its cards close to its chest.

“There are expectations about a favourable bank package,” said one analyst, who asked not to be named.

The Norwegian package will follow Sweden’s $6 billion bank plan and Denmark’s $17 billion loan stimulus deal, as the Nordics seek to stave off the worst of the global crisis.

Source: Reuters.com