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To: stockman_scott who wrote (4825)	11/29/2001 8:16:36 AM
From: D.B. Cooper	Respond to of 13815

Thursday November 29, 5:39 am Eastern Time Nordic forestries fall on Enron pulp worries HELSINKI, Nov 29 (Reuters) - Shares in Nordic papermakers fell on Thursday on worries a collapse of U.S. energy group Enron could hit paper prices due to rumours the firm holds big pulp stocks which may have to be sold for cash. Brokers and industry officials said it was rumoured that Enron (NYSE:ENE - news) held some 20-30 percent of the pulp stocks of North American producers, which if dumped on the market could halt the budding recovery of prices for the key raw material for paper. Enron officials declined to comment on the rumour, and further information on Enron's pulp holdings was not immediately available. Enron engages in pulp trade and hedging operations. At 1019 GMT, shares in the world's second-largest paper producer Stora Enso were off 1.5 percent at 14.14 euros, while global number three UPM-Kymmene of Finland was down 2.8 percent at 37.10 euros. Finland's M-real fell 3.2 percent to 6.60 euros, Norway's Norske Skog eased two percent to 150.50 crowns and Sweden's Holmen was off 2.2 percent to 239.50 crowns. The DJ Basic resources index (^SXPP - news) fell 1.8 percent. ``I would not expect anyone to try to dump the pulp on the market as it is not perishable and so it can be held, and it would only damage prices,'' said Conventum analyst Hannu Nyman. ``But if the stocks were sold, while the price in the short term would fall, it could be a positive factor (in the long run) as it would mean that (North American and Scandinavian) stocks would be smaller,'' he said. Weak global demand for paper remained the main problem affecting the industry, he added. Some officials said that while the Enron rumours were hitting shares, the sector was also cooling after a recent run of steady gains on hopes for an economic turnaround in the second half of next year.