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. Last Updated: 07/27/2016

Paper Earnings Down

HELSINKI, Finland -- Europe's two largest paper producers, Stora Enso and UPM-Kymmene, on Tuesday reported broadly expected falls in second-quarter earnings, but said they expected a late-1999 pickup in demand.

The markets for paper have been subdued since late last year due to economic crises in Asia and Russia and only modest growth in Europe. But an expected recovery should hike demand and boost prices of paper products, the two Finnish groups said.

Pulp prices - an indicator of future paper prices - have already stabilized or started rising.