Thursday, 12 February 2009
Warning Monitor : Pohjola - OP
"Bancassurer Pohjola (POH1S.HE) reported a sharp drop in fourth-quarter earnings on Thursday, hit by falling asset values and higher claims, and unveiled a $388-million rights issue to bolster customer lending."
Do not have more than the guaranteed limit in this bank, as it looks like investor are running away - This morning they announce that they needed to raise money. I think it's better to be cautious as the next wave of issues is slowly approaching (burst of the eastern country economy bubble, Russia defaulting? or worse a collapse of the Dow Jones...)