The Stockholm Stock Exchange rose in a broad-based advance on Monday. The rise was in line with those on the leading European exchanges. In the news flow, Volvo Cars appointed a new CEO.
At the close, the OMXS30 index was up 1.31 percent at 3,307.02. Shares worth approximately SEK 19.6 billion were traded on the Stockholm Stock Exchange.
Among the exchange’s larger industrial sectors, technology performed best with a gain of 1.6 percent. At the other end of the scale was energy, which was at the bottom with a decline of 2.5 percent.
Among the leading shares included in the OMXS30 index, Nibe B rose 3.4 percent while SEB A was up 3.0 percent. Volvo B performed worst, falling 0.6 percent, while SKF B was unchanged at 0.0 percent.
On Sunday, two state elections were held in Germany, both of which were major setbacks for the CDU and Chancellor Friedrich Merz. The far-right AfD became the largest party in Mecklenburg-Western Pomerania, while Die Linke won in Berlin. Merz himself has said that he intends to remain Chancellor and continue with the reform work.
Furthermore, tensions surrounding Greenland have eased after the US and Denmark reached an agreement. The parties have agreed on a security accord that gives the US an expanded military presence in Greenland.
Oil and LNG shipments through the Strait of Hormuz have been at their highest level in six months over the past two weeks, according to US Central Command. The news caused the oil price to fall and helped strengthen the stock markets.
Automaker Volvo Cars has appointed German national Klaus Zellmer as its new CEO, taking office no later than October 1, 2027. Zellmer is currently CEO of Skoda Auto and has more than 30 years of experience in the automotive industry. He has previously held senior positions at Volkswagen and Porsche, including as CEO of Porsche North America. The share rose 0.3 percent.
Real estate company SBB has agreed to sell six community properties to associated company Public Property Invest, PPI, at an underlying property value of SEK 1,,35 billion. SBB will receive SEK 250 million in cash, with the remaining SEK 1.01 billion paid through newly issued shares in PPI. As a result, SBB’s ownership stake in PPI will increase from 41 to 43 percent. SBB’s B share rose 0.9 percent while the PPI share gained 2.6 percent.
Australian asset manager Perpetual has rejected the final bid from EQT-controlled Windflower worth 2.6 billion dollars. The board believes that the bid undervalues the company and entails excessive execution risks. Perpetual now considers the discussions concluded. EQT rose 1.2 percent.
India’s telecoms regulator TRAI is requiring apps for caller identification and call management to share users’ spam reports with a blockchain-based platform operated by telecom operators. Techcrunch reported this. Truecaller calls the requirement anti-competitive and believes that it entails a one-sided transfer of commercially valuable data. The share fell 4.9 percent.
Online broker Nordnet is launching a program to repurchase its own shares for a maximum of SEK 250 million. The share climbed 5.7 percent.
Industrial company Arla Plast’s CEO and Group President Christian Krichau is leaving the company at the beginning of 2027 for a similar position in another industry. The share fell 1.2 percent.
BNP Paribas has resumed coverage of the major Nordic banks. Nordea, SEB and Swedbank receive outperform ratings, while Handelsbanken receives an underperform rating. All four major banks in Stockholm are rising, with SEB recording the largest gain at 3.0 percent.
Addnode rose 2.8 percent after a Buy recommendation from Dagens industri.
Bulten fell 4.6 percent after a Sell recommendation from Aktiespararna.
