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The Stockholm Stock Exchange continued its northward journey on Thursday, when a series of solid reports gave a new upward momentum. These included Swedish Match, ABB, SKF, Epiroc, Essity and Nordea. Commodities such as Boliden and SSAB have weighted but with moderate declines.
At 13:50, the stock market index OMXS30 of the Stockholm Stock Exchange was up 1.0% to 1.586. Shares totaling SEK 9.8 billion were subsequently traded on the Stockholm Stock Exchange
. On the main stock exchanges in Europe, on the other hand, it was more moderate. In London, FTSE100 remained unchanged while the DAX-30 in Frankfurt fell slightly.
The Swedish Match Tobacco Company rose again to shine after a strong report. The stock has peaked almost 7% on the list of OMXS30 companies and, since the beginning of the year, the stock has risen by 47%. In the Snus business sector, the margin improved, which means that the operating result was significantly better than expected.
The ABB report of the company's electricity and automation received a positive response and increased by 5%. The company has managed to increase sales prices to compensate for more expensive inputs. In addition, the company has seen opportunities for further increases in the future.
Of the banks, Nordea was the last to show its half-yearly figures. The large Nordic bank surprises positively with lower costs and slightly higher net interest rates, which has contributed to higher earnings. The stock rose 3.3%.
Among the other reporting companies, Volvo grew 1.6% after a much higher initial recovery. The result was better than expected, although the key truck drive has slightly worsened.
The clear winners on the Thursday stock market were the Betsson gaming operator, whose share rose by nearly 16%. Operating profit was 26% higher than the consensus forecast. Even the third quarter started well thanks to football vm.
Nischbanken Collector rose after posting an increase in revenues and lower costs in June. The stock was up nearly 8%.
There was also one and another loser on the Stockholm Stock Exchange. One of them was the AQ group, which dropped nearly 9%. Outgoing CEO Claes Mellgren mentions a long list of issues that should be addressed in his interim report. In addition, Didner & Gerges Small Company Fund has left the action.
Even lower, HMS Networks lost just over 14% of its report.
"The organic growth is 10%, but adjusted for currency effects, the increase in local currencies is 6% compared to the same quarter of 2017 – of which we are not satisfied," writes Staffan Dahlström in The report. The company, which provides communication systems, is still striving to grow by 20% annually.
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