The Stockholm Stock Exchange closed higher on Friday after two straight trading days of declines. Sentiment was supported by hopes of diplomatic progress in the Middle East, while the oil price is falling.
At the close, the OMXS30 index was up 0.73 percent at 3,295.03. Shares worth approximately SEK 19.2 billion changed hands on the Stockholm Stock Exchange.
Among the exchange’s major industrial sectors, industrials posted the best performance, gaining 0.98 percent. At the other end of the scale was energy, at the bottom with a decline of 2.43 percent.
Among the leading stocks included in the OMXS30 index, SKF B rose 2.3 percent while Lifco B was up 1.9 percent. Evolution was the weakest performer, down 2.7 percent, while H&M B fell 0.8 percent.
According to sources, the United States and Iran are discussing a phased agreement under which Iran would reopen the Strait of Hormuz while the United States lifts its economic blockade of Iranian ports.
Pharmaceutical company Astra Zeneca rose 0.6 percent. The company’s application for Imfinzi in combination with enfortumab vedotin has been accepted and granted Priority Review by the U.S. FDA for the treatment of patients with muscle-invasive bladder cancer who cannot undergo or have declined cisplatin-based chemotherapy.
Mining company Lundin Gold reported new drilling results from exploration at the Fruta del Norte gold mine in Ecuador. At Bonza Sur, hole BLP-2026-553 returned 204.26 grams of gold per tonne over 3.05 metres, including 1,035.60 grams per tonne over 0.60 metres. This is the highest grade recorded at the deposit to date. The stock rose 1 percent.
Defence company Saab has signed a non-binding letter of intent with the Canadian defence investment agency, DIA, laying the foundation for continued and detailed negotiations on the acquisition of Saab’s Globaleye airborne early warning and control system for the Royal Canadian Air Force. Saab rose 1.2 percent.
Power infrastructure company Linjemontage closed unchanged in its Nasdaq Stockholm debut after opening higher. The offering ahead of the listing was several times oversubscribed. The subscription price had been set in advance at SEK 46 per share, corresponding to a market capitalisation of SEK 2.36 billion.
Property company Castellum is reorganising and reducing the number of regions from four to two. At the same time, the company is targeting a 15 percent reduction in administrative costs, equivalent to SEK 100 million. The stock fell 0.2 percent.
Finnish insurance company Sampo rose 0.4 percent. The company reported an impairment, including related VAT, of EUR 118 million before tax in the third quarter. The impairment relates to intangible assets linked to IT systems in connection with the integration of Topdanmark into If.
Private equity firm EQT has, according to Bloomberg sources, recruited Massimiliano Mascolo from CVC Capital Partners to lead its private equity drive in Italy. Mascolo is said to have started at EQT in recent days. The stock fell 0.2 percent.
Brazilian President Luiz Inácio Lula da Silva is expected to announce a complete ban on online betting during Friday, according to SBC News. EFN writes meanwhile that O Globo and Folha de S.Paulo reported that Lula confirmed his decision at a meeting with economy ministers. The ban would be a setback for several listed gaming companies with operations in Brazil, the financial news channel writes. Betsson rose 1 percent while Evolution fell 2.7 percent.
Research company Nanexa has entered into a global exclusive licensing and collaboration agreement with Novo Nordisk concerning the PharmaShell drug platform. The agreement covers up to five development programmes for long-acting injectable peptide drugs in areas including obesity, type 2 diabetes and other cardiometabolic diseases. Novo Nordisk is responsible for global development and commercialisation. Nanexa may receive a total of up to EUR 1,165 million, of which EUR 615 million relates to the upfront payment and development and regulatory milestones. Nanexa surged 105 percent.
In the analyst flow, Bernstein downgraded its recommendation on telecom operator Tele2 to market perform from outperform. The stock rose 0.3 percent.
Industrial group Salix Group rose 7.4 percent. DNB Carnegie initiated coverage of the stock with a buy rating and a target price of SEK 84.
Communications services company Sinch was downgraded by DNB Carnegie to hold from buy. The target price was simultaneously raised to SEK 55 from SEK 52. The stock fell 4.7 percent.
Engineering company Sandvik rose 1.6 percent after SB1 Markets upgraded its recommendation to buy from neutral and raised its target price to SEK 440 from SEK 360.
Mining equipment company Epiroc, meanwhile, was downgraded to neutral from buy by SB1 Markets. The target price was cut to SEK 280 from SEK 305. The stock rose 1.6 percent.
Home automation company Plejd rose 1 percent after Aktiespararna gave the stock a buy rating with a target price of SEK 1,200.
