Norway`s DnB NOR tells Reuters 2010 profit goal tough to reach, shares tumble

Shares of Norways top bank DnB NOR fell by four percent in heavy trading on Dec. 7 when the companys boss exclusively told Reuters it was finding it very tough to reach its profit target for 2010. The number of DnB NOR shares traded for the day was at its highest level in seven months, with the vast majority coming in late trade after the Reuters story. Analysts confirmed that the statements from CEO Rune Bjerke were moving the share, and local media quoted Reuters for the news. The drop in value also brought down the Oslo benchmark stock index, which closed in negative territory for the first time in five sessions. DnB NOR`s share price fell from 80.15 Norwegian crowns ahead of the story to 77.05 crowns after. It recovered some losses towards the end of the session but still closed 2.4 percent lower for the day.