Stockholm: Ruddy finish to the week – Dagens Industri

Updated 2016-06-10 17:43. Published 2016-06-10 17:43

Stockholm Stock Exchange ended Friday trade in the red for the third day in a row. The wide OMXSPI index fell 2.1 percent, the largest fall since the end of February, while the OMXS30 fell 2.2 percent.

“All investors focus on a possible brexit right now and it is not impossible that the courses fold down before the vote. Then there is always intradagsfaktorer that control but I think brexit it is stuck to the retina. At the same time, I think it is a bit exaggerated because I do not believe the economic impact will be as extremely great as many feared, “said Matthias Gietzelt, responsible for market and equity research at Söderberg & amp; Partners.

Worst did it SAS fell by 10.3 percent after a quarterly report that is not the market fell in the taste. Net profit landed at 171 million, which was 44 percent below analysts’ forecast of 307 million, according to SME Direkt.

Among the big companies belonged JM day’s biggest loser with a race of 5.5 percent for Danske Bank lowered its recommendation to keep from previous purchases.

“we expect decent numbers but given the indications of falling house prices in Stockholm recently we lower now our recommendation . If the upcoming price statistics really show lower rates, we expect that JM shares will underperform, “writes Danske Bank.

Matthias Gietzelt agree that it looks like we’re about to get a touchdown in the housing market.

“I have heard several real estate agents who say that there is a clear slowdown now. Then it is probably too early to say that this is the turnaround. We have no indications of an increase in interest rates, so it’s hard to see that there will be a major crash in the housing market, but in the case of a touchdown, “he says.

Other big losers were including retail giant ICA, which fell by 5.7 percent after a negative analysis from Barclays. The steel company SSAB fell in turn by 3.8 percent, while investment company Melker Schörling fell 4.4 vol.

“To fall SSAB does not surprise me. There is a high risk that the stock will fall more than the index when the stock market declines. I’ve been expecting a decline in Ica where we are adverse to it. Especially because the online venture will cost quite a lot and there is a great competition. Ica has a good earnings and should have a high score, but I think it has been a little too high, “says Matthias Gietzelt.

The only large-cap shares , which remained above the surface was the Axis , with a modest rise of 0.2 percent.