Investor reports profit surge in Q3

The Swedish investment group Investor said on Tuesday it had earned a
profit in the third quarter as it took advantage of renewed
stability on global financial markets. Investor, controlled by the
powerful Wallenberg family, reported a net profit of 12.52 billion
kronor (1.21 billion euros, 178 million dollars) in the third
quarter compared with a loss of 8.8 billion kroner in third quarter
2008. The company has stakes in nearly all of Sweden's major
companies, such as telecom equipment maker Ericsson, and its
performance is considered a reliable indicator of the state of the
Swedish economy. The group's net asset value, representing the value
of its total portfolio minus liabilities, rose 9.7 percent to 181
kronor a share, beating a prediction of 179 kronor from analysts
polled by Dow Jones Newswires.