Friday, July 22, 2016

Down on the stock market – Skanska rages – Business World


     Stockholm Stock Exchange. Photo: Jörgen Appelgren / Business World
     

The Stockholm stock exchange was similar to other European large cap index slightly below zero on Friday morning. A slight gain came after July’s preliminary German purchasing managers index surprised on the upside for both manufacturing and services. The popular trading shares Fingerprint Cards report has so far received as approved by the trade sentencing.

In the morning, including Skanska and SSAB reported, the former earnings slightly weaker than expected and latter well above expectations.

SIX General Index was at 09:57 0.3 percent lower at 473 and OMXS30 was 0.4 percent lower at 1,377. Sales amounted to SEK 2.6 billion on the Stockholm Stock Exchange. Trade also occurs in other venues such as Bats, Chi-X and Turquoise.

In Fingerprint Cards’ second quarter was revenue in below expectations but higher profitability from gross profit and downward into higher, set against the expectations of Inquiry Financials analyst survey . Biometrics company narrowed while revenue estimate for the full year 2016 slightly, with a new center which was slightly below analyst expectations.

Retiring CEO Jorgen Lantto says SIX to Fingerprint believes itself able to maintain their margins ahead. The report said the Fingerprint having “good visibility well into 2017 in terms of our market position.” The stock has started 0.9 percent higher as today’s date at most traded on the Stockholm Stock Exchange.

Building giant Skanska latest quarter came in at 2 percent lower profit before tax than expected, and even build margin and consolidated revenue missed the target. Order intake, however, was slightly higher than expected. According to Skanska has so far not experienced any Brexit-effects in its UK construction activities. Skanska shares retreated 5.7 percent.

The steel company SSAB’s quarterly results were roughly double up against analyst expectations, both adjusted to the reported level. Faced with the current third quarter track to lower deliveries but higher prices. B shares rose 7.4 percent.

Swedish Match reported revenue and earnings that were slightly better than expected. Tobacco company’s well-guarded snuff margin was in line with expectations. Shares rose 0.7 percent.

Capio reported revenues in line with expectations and the results that were better than expected. Host operator rose 5.1 percent.

The investment company Kinnevik went out the second quarter with a net asset value of SEK 235 per share. The stock has started 1.5 percent lower at 214.90 crowns.

Commenting on the SIX lift Kinnevik’s CEO Lorenzo Grabau forward noted nätmodeinnehavet Zalandos successes, including the forecast increase, raising funds in unlisted nätmodeinnehavet GFG, where Kinnevik receives a stronger position as the largest shareholder at an attractive valuation, and value transfers to the shareholders of approximately 12 percent of market capitalization.

Among the current challenges mentions Grabau the tougher earnings outlook for a number of emerging market holdings, which Kinnevik will continue to decline down on the number of holdings and how the business changes affecting the mature possession trio Millicom’s / MTG / Tele2′s growth and margins in the short run.

Besqab grew revenues and operating margin increased according to segment reporting. Residential Builder’s IFRS results, however, down marginally and the number of sold and housing starts fell sharply. Shares dropped 6.4 percent.

SEB analysts replace foot in 3D printing company Arcam reported yesterday. The new Council of SEB’s sales, previously had been intact. Arcam has today lost a further 6.0 percent, after already pressed yesterday on the report.

At lunchtime expected to report vehicle safety company Autoliv, whose shares were quoted 0.4 percent higher before it.

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