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...)

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