Stockholm market rose in a broad advance on Friday. The gain was in line with Frankfurt, while London and Paris posted more moderate increases. Investor and Avanza were among the companies reporting today.
At the close, the OMXS30 index was up 1.25 percent at 3,296.84. Shares worth approximately SEK 28.6 billion were traded on the Stockholm market.
Among the exchange’s larger industrial sectors, financials performed best, rising 1.6 percent. At the other end of the scale, healthcare was at the bottom, down 0.5 percent.
Among the leading shares included in the OMXS30 index, EQT rose 3.3 percent, while Saab B was up 2.9 percent. Astra Zeneca was the weakest performer, down 1.9 percent, while ABB fell 0.6 percent.
Investment company Investor’s adjusted net asset value was SEK 411 per share on September 30, an increase of 4 percent during the quarter. Investor is also buying shares in private equity firm EQT from Wallenberg Investments for SEK 3.5 billion. The share rose 2.3 percent.
Online broker Avanza Bank reported operating profit that was slightly below expectations in the third quarter, while the company lowered its cost forecast for the establishment in Denmark. Revenue was also slightly below consensus. The share fell 2.8 percent.
Mining company Lundin Mining expects positive price adjustments of USD 51 million before tax in the third quarter, mainly related to previous copper sales. At the same time, the company is reporting costs of USD 66 million following winter storms that temporarily halted operations at the Caserones mine in Chile. The company also expects realized losses of USD 9 million from gold derivatives. In addition, Lundin Mining has received USD 23 million in additional consideration from the sale of Neves-Corvo to Boliden. The share rose 2.9 percent.
Hygiene and healthcare company Essity rose 0.6 percent. Asia Pulp & Paper and private equity firm CVC Capital Partners are considering separate bids for Essity’s consumer tissue business. RGE is also among the potential bidders, Bloomberg News reported, citing sources. Essity began a strategic review of the business area in May.
European defense shares had a strong trading day on Friday, and Sweden’s Saab followed the sector’s gains.
Nuclear technology company Studsvik signed a framework agreement with Norway’s NND on the management of spent nuclear fuel from the research reactors in Halden and Kjeller. The agreement runs until 2055 and has an estimated minimum value of SEK 875 million, while the total value is estimated at SEK 3-4 billion. The share advanced 4.6 percent.
Lighting company Plejd delivered a strong third-quarter report. Revenue rose 31 percent and operating profit increased 60 percent compared with the same quarter last year. Value growth in installations amounted to 26 percent globally. The share rose 2.5 percent.
Property company Platzer’s profit from property management increased 10 percent to SEK 218 million in the third quarter. The share fell 1.0 percent.
Property company NP3’s profit from property management amounted to SEK 355 million in the third quarter, an increase of 12 percent. NP3 reiterated its forecast for profit from property management of SEK 1,240 million for full-year 2026. The share rose 2.7 percent.
Car manufacturer Volvo Cars expanded its cooperation with technology company Nvidia to develop safer automated driving in future car models. The share rose 2.8 percent.
A few recommendation changes were seen in the flow. It was a double upgrade for major bank Nordea, which was raised to Add from Reduce by Inderes and to Buy from Hold by Arctic Securites. The share closed 0.3 percent higher.
Danske Bank dropped its Buy recommendation for Ericsson and downgraded the rating to Hold. The share nevertheless rose 1.9 percent.
Wallenstam climbed 2.7 percent after Kepler Cheuvreux raised its recommendation to Buy, from Hold.
Björn Borg rose 1.3 percent. Inderes raised its recommendation to Buy, from Add.
