Oil price fall of spots on the stock exchange – Business World

The Stockholm Stock Exchange started Monday with the price declines, especially in the oil sector, after the weekend’s abortive OPEC meeting. Against the tide went including some smaller companies in the pharmaceutical sector in the wake of acquisitions.

SIX General Index was at 10:00 am down by 0.5 percent to 467 and OMXS30 index fell 0.6 percent to 1,373. Turnover was 3.3 billion kronor on the Stockholm Stock Exchange.

Brent crude traded down 4.3 percent to $ 41.26.

“The price drop could be even greater if a strike had broken out in Kuwait. Our assessment is that the price of oil will be traded in the range of 30-40 dollars per barrel in the next six months, “writes

Handelsbanken in a morning letter.

in the oil sector fell Lundin Petroleum 2 , 2 percent, Enquest almost 11 per cent, Africa Oil 5.0 percent and Tethys 2.7 percent.

the banks also had it tough in the opening trade. Handelsbanken fell 1.4 percent, 0.8 percent, Nordea, Swedbank and SEB 1.1 percent 1.0 percent.

Demand for appliances has been strong in Europe at the beginning of the year. It says German competitor Electrolux Miele, writes Dagens Industri. Electrolux advanced 0.8 percent.

AstraZeneca is considering a bid worth 10 billion dollars on the US company Medivation, writes the Sunday Times, citing sources familiar with. Shares fell 0.1 percent.

Episurf Medical announces the launch begins work in the United States through the preparation of a 510 (k) application. Shares rushed 12 percent.

Recipharm has signed two separate agreements to acquire businesses from Kemwell. The businesses to be acquired had preliminary net income for 2015 of approximately SEK 745 million, corresponding to 22 percent of Recipharm’s net income for 2015. The share moved up 2.2 percent.

Still in the pharmaceutical sector Xvivo bid for all the shares in First North-listed Vivoline, an industry colleague in the transplantation area. The share was pressed up 3.8 percent.

The parliament has overwhelmingly voted that Sweden should not adjust the interval between inspections occasions to the minimum required by the EU Directive. Opus rose 4.8 percent.

RBC Capital Markets lowers recommendation for bearings manufacturer SKF to underperform from previous sector underperform. Shares rolled down 1.6 percent.

Handelsbanken raises recommendation for TietoEnator to purchase from the previous increase. The share is traded with 38 percent discount to the Nordic IT sector, according to the bank’s calculations. Shares strengthened 0.9 percent.

Citi Research raises target price for Millicom to 505 crowns, from the previous 385 crowns. The recommendation neutral repeated. Shares rose 1.0 percent to 471.30 kronor.

In Recommendation turn lowers the Goldman Sachs recommendation for automotive safety company Autoliv to sales, from the previous neutral. The share careened down 1.4 percent.