The advance held up on the Stockholm Stock Exchange, which ended Tuesday near the day’s high. Investors’ attention was focused on Tuesday’s flood of earnings reports.
Talks for peace in Ukraine took an unexpected turn with the news that Russia’s Vladimir Putin had spoken with Norway’s Jonas Gahr Støre and Finland’s Alexander Stubb. The call is said to have taken place at the initiative of Støre and Stubb, in consultation with Ukraine.
At the close, the OMXS30 index was up 0.96 percent at 3,256.55. Shares worth approximately SEK 25.3 billion changed hands on the Stockholm Stock Exchange.
Among the exchange’s major sectors, financials posted the best performance, rising 1.17 percent. At the other end, consumer staples was at the bottom, down 0.71 percent.
Among the leading stocks included in the OMXS30 index, Lifco B rose 3.4 percent while ABB was up 2.6 percent. Epiroc A posted the weakest performance, down 1.2 percent, while Evolution fell 1.0 percent.
Pharmaceutical company Sobi rose 1.1 percent after adjusted EBITA of SEK 4,087 million exceeded expectations of SEK 3,664 million. The company raises its revenue forecast to between the upper end of the 10 percent range and the lower end of the 20 percent range at CER. The forecast for the adjusted EBITA margin is reiterated.
Industrial company Alfa Laval’s order intake amounted to SEK 23.2 billion, just over 14 percent higher than expected. Adjusted EBITA was meanwhile in line with expectations. Alfa rose 0.7 percent.
Lock manufacturer Assa Abloy’s operating profit rose to SEK 7,102 million, approximately 2.6 percent higher than expected. The share rose 2.3 percent.
Technology company Tieto fell 6.5 despite adjusted EBITA of EUR 70.2 million exceeding expectations of EUR 65 million. The company also raises its forecast for the full-year adjusted EBITA margin to 15.5–16.0 percent, from the previous 14.8–15.8 percent. However, the company lowered its forecast for full-year organic growth.
Aerospace technology company CTT Systems increased revenue and operating profit in the third quarter. Operating profit rose to SEK 23.1 million from SEK 18.6 million. The growth forecast for the aftermarket is raised to 20–25 percent, while the forecast for OEM is adjusted to 45–50 percent. The share surged 11.6 percent.
Contract manufacturer Hanza, whose share rose 2.2 percent, significantly increased revenue and improved operating profit in the third quarter. The company reiterates its financial targets and estimates that revenue can reach SEK 14 billion in 2028 even without further acquisitions.
Audiobook company Storytel’s revenue exceeded expectations while adjusted EBITDA was in line with consensus. The company reiterates its full-year forecast of SEK 900 million in adjusted EBITDA. The share rose 2.8 percent.
Technology company Micro Systemation, MSAB, announces that illegal copies of an older version of the XRY Pro software are being sold online following a data breach at a customer. The company emphasizes that its own security procedures were not compromised and assesses that the incident has no commercial impact. The share recovered an initial decline but nevertheless closed down 3.2 percent.
Industrial group VBG fell 5.3 percent after reporting operating profit that declined nearly 12 percent to approximately SEK 140 million in Q3.
Steel company SSAB’s A share rose 1.1 percent. The company is in focus after Reuters reported that the US and Canada are negotiating lower US tariffs on Canadian steel and cars. The negotiations are taking place after previous trade talks broke down in August. The company reports on Wednesday morning.
Specialty steel company Alleima, which fell 13 percent yesterday after its report, continued lower on Tuesday and fell 4.3 percent.
Appliance manufacturer Electrolux has its rating upgraded by DNB Carnegie to Buy from Hold. The price target is simultaneously raised to SEK 50 from SEK 26. The share rose 3.8 percent.
