Stockholm Stock Exchange.
Stockholm Exchange notes at lunchtime higher rates of cyclical companies at the forefront of the upturn. Also abroad pulls indexes rise slightly to Frankfurt plus 0.4 percent, while London will increase 0.1 percent. Clas Ohlson rises after report.
SIX General Index was at 12:59 up 0.5 percent to 499, while OMXS30 index rose 0.5 percent to 1,442. Turnover was 5.7 billion kronor on the Stockholm Stock Exchange.
The Riksbank held as expected the key rate unchanged at -0.50 per cent when the bank this morning left a vengeance. Riksbank indicate that the economy has been in line with forecasts.
“We can still cut the repo rate. Minus 0.5 percent is not a ground for how far down you can go,” said Stefan Ingves on the subsequent press conference .
DIY company Clas Ohlson reported SEK 75 million in profit before tax for May to July, almost 17 percent lower than expectations. Sales in August increased 9 percent against the anticipated 4.9 percent. The newly opened Hamburg shop is reported to have made a good start.
In addition, the company will open its second franchise store in Dubai in the fall.
“The report was disappointing, but it is offset by the strong August sales and a good start for the newly opened store in Germany, “said Swedbank’s equity strategist Lars South Mountain in DI’s Morning Exchange. Clas Ohlson shares improved 3.5 percent.
Swedish Match has sold 13 million shares in STG to institutions for 106 Danish kroner per share (last paid yesterday on the Copenhagen Stock Exchange was 109.50 billion). The placement was increased from 10 to 13 million shares due to strong demand from investors, according to the company. Swedish Match shares advanced 1.2 percent.
Precise Biometrics pushed down 3.3 percent in the wake of Tuesday’s resignation statement from the Chief Financial Officer. “Warning lights blink when Precise Biometrics CFO Tommy Nilsson chooses to leave Algorithm company faces big challenges,” writes Dagens Industri.
The real estate Sagax proposes a rights issue of new shares, series D, 383 million and suits while updating its financial targets. B shares rose 1.0 percent.
Lundin Mining was up 1.2 percent. Reuters reports that the Congolese state-owned company Gecamines wants to buy Freeport McMoran ownership stake of 56 percent in the Tenke Fungurume copper mine. This share has Freeport earlier signed an agreement for the sale to Chinese China Molybdenum, but that Lundin Mining has first refusal on until 15 September. Gecamines today, owns 20 percent of Tenke.
On the recommendation of the front SEB has initiated coverage of TF Bank and Nordax with the purchase but lowered the recommendation for Lindab to keep from buying. TF Bank climbed 10.3 percent and 4.8 percent, while Nordax Lindab bent down 2.9 percent.
Morgan Stanley raises recommendation for Atlas Copco to obesity, from the previous equilibrium. The price target is drawn up to 278 crowns, from the previous 226 crowns. The course strengthened 2.0 percent to 228 kronor.
The business world recommend the purchase of Unibet and Poolia. The shares were up 1.1 percent and 6.3 percent.
Arcam, which yesterday rose sharply after the offer from General Electric at 285 crowns per share has climbed further up by 2.5 percent to 292 crowns . General Electric has today flagged for 14.2 percent of the shares in the company.
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