Stockholm: Upwards of Sandvik on the weak stock market Tuesday, OMXS30 -1.3%
2015-08-11 17:35
(SIX) prices on the Stockholm Stock Exchange took back the leading European exchanges and stepped back Tuesday trading, where the initial cautious declines deepened during the afternoon. Sandvik was the exception, rising spot Exchange's most actively traded share, after yesterday confirmed the change of CEO. SIX General Index had fallen upon closing 1.1 per cent to $ 513 while the OMXS30 index fell 1.3 percent to 1.615. Sales were 17.3 billion kronor on the Stockholm Stock Exchange and 22.8 billion including the alternative trading venues Bats, Chi-X and Turquoise. Average turnover on the Stockholm stock exchange is usually about 13-15 billion. Sandvik was the Stockholm Stock Exchange's most traded share in the daytime. Workshop Group confirmed in connection with the closing of the Monday that CEO Faxander, with immediate effect, leaving his service. Björn Rosengren, the current CEO of the Finnish industrial group Wärtsilä takes over from Faxander from 1 November 2015th The news was already known at lunchtime on Monday and its shares lifted sharply before trading was halted. Trading was resumed on Tuesday, and the initial rise about 3 percent were replaced by more modest +1.1 Percent at the closing. Sandvik's Board Chairman Johan Molin described that Faxander in the first half of this year, worked a lot with the challenges of the tough market in gas and oil, in the business area Mining & amp; Construction. He stressed that Faxander been involved in many project, but that unfortunately not all of those who entered the goal. "It is not that we are unhappy with his initiative, but earnings performance has not been ideal. Olof has also worked on a tough year market, it should be remembered, "said Molin SIX News after the press conference held in the morning on the occasion of change of CEO. Furthermore, Björn Rosengren secretive about plans for Sandvik, but placed great importance on being a market leader in China while he do not see any urgent need to increase investment in research and development. Sandvik was also in the spotlight on the analysis front. JP Morgan raised shares to neutral from underweight earlier and Handelsbanken pulled up its recommendation from decrease to increase. Otherwise, the majority of the OMXS30 companies red notes. IN the bottom of the index stood Ericsson, Atlas Copco and Volvo, which lost 3.1, 3.5 and 2.5 percent. Continuing on the theme of CEO changes Nordea announced at noon that CEO Christian Clausen leaves his position and even the board. Replacement will Casper von Koskull, which in the current situation is vice president of Bank. Just as Sandvik will change of CEO to take place on 1 November. Nordea traded down 1 percent on the day. Precise Biometrics and Fingerprint Cards took second and third place on the turnover list. Fingerprint announced that the touch sensor FPC1155 has been integrated into the Chinese manufacturer ZUK's Android-based smartphone Z1 launched today. Precise, which collaborates with Fingerprint of the deal, announced on integration somewhat later. The shares bounced down from Monday's gains by -16 respectively -9.2 percent. Outside the general flow was pressure from the completely unexpected devaluation as China's central bank PBOC. The Chinese yuan's fixed exchange rate was lowered with close to 2 percent and was guided thereby to the lowest level in almost three years. It also pointed Greece and its international lenders have reached a technical agreement on the conditions for a new financial bailouts. According to the EU Commission's spokesperson Annika Breidthardt missing is a political agreement. "Nothing is agreed until everything is agreed", Breidthardt commented. Moberg Pharma reported in the current interim pretax tax of SEK 8.1 million for the second quarter of 2015, up from 4.3 million in the corresponding period last year. Moberg Pharma repeated also their long-term goals of the report but the market was frigid in his receiving and lowered the share was 7.4 percent. Remaining in the pharmaceutical sector rushed Orexo 15 percent. The FDA has approved Zubsolv for another indication, according to a press release. The medical technology company Bactiguard announced a received additional orders Bard worth approximately SEK 28 million and was rewarded with a rise at 20 percent. Tomorrow Wednesday is expected interim inter alia, Bjorn Borg and HiQ. Index Online Today% This year% SIX General Index 513 -1.1 +12.5 OMX Stockholm 30 1615 -1.3 +10.3 SIX Return Index 958 -1.1 +16.0 SIX Sweden cyclic 15447 -2.5 +12.2 SIX Sweden defensive 15537 -0.9 +19.5 SIX Volatility Index 15.0 +11.9 -4.0 Louise Thorslund mailto: louise.thorslund@six-group.se www.blogg.six.seSIXNews SIX News
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