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STOCKS NEWS EUROPE-Swedbank falls on profit miss, dividend caution

Reuters - UK Focus

Shares in Swedish bank Swedbank (Other OTC: SWDBF - news) are down 2.5 percent in early trading after announcing a smaller-than-expected hike of its dividend and fourth-quarter earnings below market expectations.

Swedbank says its net profit for continuing operations slid 13 percent to 3.67 billion Swedish crowns ($571 million), missing a mean forecast for 3.96 billion in a Reuters poll of analysts, as a write-down in its portfolio of repossessed real estate weighed.

"Basically it was a headline miss," Berenberg analyst Nick Anderson says. "That seems to have to do with some one-off items (related to) tax and some restructuring costs."

For a full story on the results, please click

Reuters messaging rm://niklas.pollard.thomsonreuters.com@reuters.net