Stockholm: Nobia winner after the French bid, OMXS30 +0.4% – Dagens Industri

Stockholm: Nobia winner after the French bid, OMXS30 +0.4% – Dagens Industri

Stockholm: Nobia winner after the French bid, OMXS30 +0.4%

                  2014-09-24 17:43
             

 (SIX) Stockholm Stock Exchange closed slightly higher on Wednesday after two  day decline. Nobia surged after bid for the unprofitable  French business while Millicom dropped after lowering a  margin targets.       In terms of macro statistics bad day at the Swedish KI barometers where  manufacturing index was slightly weaker than expected, while households were more  positive than expected. From Germany came a weak Ifo index, which  further underscored the message of the weak purchasing managers figure  from there yesterday.       SIX General Index had risen at closing 0.3 percent to 432, while  OMXS30 had increased 0.4 percent to 1.411. Turnover was 14.9  billion on the Stockholm Stock Exchange and 20.2 billion including the  alternative trading venues Bats, Burgundy, Chi-X and Turquoise.       Millicom reiterated its revenue target of over $    9 billion to  2017, but lowered the target for EBITDA margin slightly. The new  formulation is called an  EBITDA margin "around" 35 per cent, the  previously was "over" 35 percent. Shares dropped 2.4 percent.       Nobia was the big winner with a gain of 14.7 percent.  The company has received an offer for the loss-French movement in  Hygena, which it intends to accept. Hygena has long weighed on  results and expected to continue doing so in the future, wrote  Handelsbanken in a morning letter.       Volvo was the most actively traded as investors continued melted MAN  sharply reduced forecast for Europe from yesterday. Shares rose 0.1  percent.       One other highly traded shares were Ericsson dropped 0.9 percent.  UBS lowered its recommendation from buy to neutral in light of a  the rise of the share, driven by a stronger global environment for mobile  capex.       Among other recommendations noted Exane BNP Paribas initiated  coverage of Autoliv recommendation Outperform and SEB Enskilda  HiQ raised to buy from the containers. Autoliv rose 1.1 percent  while HiQ  added 1.4 percent.       Africa Oil fell 7.3 percent throughout. FirstEnergy poked down shares  from his warmest recommendation "top pick" to the slightly more tepid  Outperform.      Index Latest Today%% This Year    OMX Stockholm 30 1411 +0.4 +5.9  SIX General Index 432 +0.3 +6.2  SIX Return Index 783 +0.3 +9.8  SIX Sweden cyclic 15384 +0.3 +12.4  SIX Sweden defensive 15424 -0.2 +5.6  SIX volatility index 12.1 -4.8 -0.9    Andreas Johansson, phone +46 31 350 6483  mailto: andreas.johansson@six-group.se  www.blogg.six.seSIXNews  SIX News