Shortly before 14:00 had OMXS30 index fell 0.2 percent to the level of 1390. Shares for approximately 5 billion had then traded on the Stockholm Stock Exchange. On the continent sank Euro Stoxx 50 index 0.4 percent and the German DAX was trading 0.3 percent lower.
Stockholm Stock Exchange was aided by Volvo, which rose 1.2 percent, and was thus best stock within OMXS30. In the initial morning trade, the Volvo shares down 1 percent, but the news that Cevian Capital, which is a major shareholder in the giant vehicle, increasing its holding to 5.1 per cent of the capital was boosted on the stock. Cevian Capital’s chief Christer Gardell, commented on the acquisition:
“We are increasing because we think the stock is cheap and we think Olof Persson, Carl-Henric Svanberg will go ashore with the ambitious program they have for improving Volvo’s profitability, “said Christer Gardell to Direkt.
Electrolux was also strong, up 1.1 percent. Then it became clear, for just over a week ago, that Electrolux buys GE’s appliance unit, the stock has risen more than 10 percent.
Kinnevik shares remained weak, and fell 0.9 percent. Weighed made to the British online retailer Asos, which competes with Kinnevik owned Zalando, dropped 9 percent on the London Stock Exchange after the company’s annual report.
AstraZeneca was also at minus shares retreated 1.1 percent. The Swedish-British and American pharmaceutical company Eli Lilly has signed an agreement to jointly develop drugs against Alzheimer’s. Lilly will pay up to $ 500 million for Astra Zeneca in development and regulatory milestone payments.
Outside the large cap index dropped Intrum Justitia 5.2 percent, at a price of SEK 207. SEB lowers its recommendation to sell from previously intact. Target price of 210 crowns repeated. Danske Bank Markets lowers to keep from previous purchases, with repeated price target of 225 crowns.
Africa Oil’s reserve update, which was presented before the stock market opening, was a disappointment for stock market traders, who traded shares down 3.7 percent. Among analyst comments as Direkt have read, liked Carnegie resource update ended up in the low end of expectations-range, and Swedbank Markets believes that the number of barrels were slightly lower than expected.
From Kenya, where Africa Oil has its main assets, however, came the news of a new rate, notably the country’s oil and mining sectors. The tax rate is set at 5 percent, which is well below the Pareto Securities’ expectations low of 20 percent. Pareto writes that tax news should make up for the disappointing resource update constituted on Tuesday morning.
Among small caps stage medical technology company Ortivus 5.2 percent. On Monday, the share closed over 11 percent up, after the news that a British customer has approved Ortivus documentation system and paid £ 2 million under a previous contract.
Another smaller companies that did well was Opcon, which increased 6.7 percent. The last time the stock has been going strong, as several insiders increased their holdings.
Diamyd Medical develops collaboration with Protein Sciences on the development of new diabetes treatment. Protein Sciences is thus one of the major shareholders of Diamyd. The news was well received by the market as shares traded up 3.5 percent.
Forward-looking
From the USA presented the PPI data for August at 14.30.
No comments:
Post a Comment