Telia on course for best day in 1 yr after Q2 beat

** Shares in Telia TELIA rise around 5% after the Swedish telecoms operator reported second-quarter core earnings above market expectations

** Q2 adjusted EBITDA rose 6.2% on a like-for-like basis to 7.97 billion Swedish crowns, higher than an average forecast of 7.83 billion in a company-provided consensus

** J.P.Morgan says the EBITDA beat was mainly driven by strong performance in Sweden and Other operations

** Telia reaffirmed its 2025 guidance, expecting at least 5% EBITDA growth and free cash flow around SEK 7.5bn, mostly in line with consensus, the broker adds

** The analysts also note that Telia signed a memorandum of understanding to divest its entire stake two Latvian operations

** If gains hold, the stock will see its best day since July 2024