November web-activity insights
Web-activity data so far in November points to roughly flat trading activity MOM at Avanza, and a c8% uptick at Nordnet. While falling house prices and high inflation continue to feed consumer caution, rising stock markets seem to have temporarily buoyed their appetite to trade. Markets widely expect the Riksbank to raise the policy rate by at least 50bp this week. Although we expect this to offset some of Avanza’s and Nordnet’s lost brokerage revenue, the marginal benefit from higher rates will likely be lower than that from previous rate hikes.Avanza Bank Holding is the holding company of the Avanza Bank Group. Co.'s offerings comprise of: brokerage services, which enable investments in Swedish and foreign equities, bonds, funds, derivative financial instruments including futures, warrants and options, investment advisory services, pension products, pension insurance, as well as capital insurance services. Co. targets private individuals, high net-worth customers, corporate customers, day traders, fund managers and institutions.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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