Stockholm Stock Exchange Mixed as Reporting Period Ends
The Stockholm Stock exchange saw a mixed performance today as the quarterly reporting period drew to a close, with the OMXS30 index poised for a positive weekly and monthly close if current trends hold. At 12:51 p.m., the OMXS30 was up 0.04 percent, reaching 2,790.53, with approximately SEK 4.5 billion worth of shares traded.
Raw materials led the gains among major sectors, rising 0.34 percent, while technology lagged behind with a decline of 0.86 percent. Within the OMXS30, Nibe B experienced a 2.7 percent increase, and Addtech B rose 1.7 percent. Conversely, Hexagon B and Skanska B both fell 1.2 percent.
Several companies released quarterly reports today. Fastator, a real estate investment company, reported a net asset value per share of SEK 1.92 in the third quarter and an operating loss of -9.1 million, prompting a 52 percent rally from previous lows. Property developer Titania completed a targeted share issue, raising SEK 79 million before costs, and saw a 4.7 percent increase on First North. Mining company Viscaria saw a 4.4 percent decline as its shares traded excluding subscription rights related to a recent rights issue.
Technology group Sdiptech held a capital markets day, unveiling new financial targets including a goal of 15 percent adjusted EBITA growth. The stock dipped 0.4 percent following the update. Bioarctic announced its partner Eisai submitted a marketing authorization application to the Japanese PMDA for a subcutaneous Leqembi (lecanemab) auto-injector treatment, resulting in a 0.6 percent decrease in Bioarctic’s share price.
Analyst activity also influenced trading. SB1 Markets initiated coverage of Boliden with a “buy” proposal, lifting the stock 1.5 percent. Goldman Sachs began monitoring several stocks, initiating purchases of Trelleborg and Addtech with a “buy” rating, leading to gains of 2 percent for Trelleborg and 1.8 percent for Addtech. Goldman sachs initiated “neutral” coverage for Lifco and Indutrade, causing lifco to fall 0.7 percent while Indutrade rose 0.1 percent. JP Morgan upgraded Telia to “overweight,” resulting in a 0.6 percent increase, and Danske Bank raised Paradox to “buy,” driving a 5.3 percent jump in its share price.
