Recent Buy: Nordea Bank & Fortum

Things escalated quickly in the banking sector. Silicon Valley Bank collapsed and US regulators came up with emergency plan during the weekend. I was expecting a bit more turbulent opening today but ended up buying 100 shares of Nordea Bank for 11,08¬†EUR per share. Financial system – including European one – is far from solid but I consider it unlikely that Nordea would take significant hits in short term. Ex-dividend date is also quickly approaching so didn’t go for bigger purchases just yet but will have to see how these things unfold in the coming days and weeks.

While at it, I decided to buy additional 80 shares of Fortum for 14,1 EUR per share. Still have somewhat mixed feelings about the company and state ownership but most likely I’ll build a half position during the second quarter. Sector itself is kind of must have and Fortum is reasonably well positioned for the energy transition taking place in next 10-15 years. Sure, the Uniper fiasco and still pending exit from Russia still stings but perhaps it will help keeping some idle hands bound for the said time period. Just in case someone gets ideas about branching out and expanding.