The Stockholm Stock Exchange closed lower on Friday after global markets were weighed down by the stock market sell-off on Wall Street the previous day, where the AI jitters once again put pressure on technology stocks.
At the close, the OMXS30 index was down 1.01 percent at 3,267.88. Shares worth approximately SEK 27.7 billion were traded on the Stockholm Stock Exchange.
All major industry sectors except healthcare fell. Healthcare ended the day unchanged. Telecommunications was the weakest performer, declining 1.12 percent.
Among the leading stocks included in the OMXS30 index, Skanska B rose 2.1 percent, while Epiroc A was up 0.5 percent. Nibe B was the weakest performer, falling 2.4 percent, while Addtech B was down 1.9 percent.
The reporting season continued with healthcare and care services company Attendo, whose adjusted EBITA came in at SEK 557 million in the third quarter, which was 7.9 percent higher than analysts’ expectations. Revenue was in line with consensus. The board has also decided to initiate a buyback of its own shares for up to SEK 300 million. The announcements sent the share price up 16.2 percent.
Consulting and education company BTS increased revenue and significantly improved operating profit in the third quarter compared with the same quarter last year. BTS reiterates its forecast that full-year EBITA is expected to be substantially better than the previous year. The share surged 15.7 percent.
Industrial electronics company Inission recorded a clear improvement in revenue and operating profit in the third quarter compared with the same quarter last year. Two weeks ago, the company raised its full-year revenue target to SEK 2.6–2.7 billion, from the previous SEK 2.3–2.5 billion. The target of an EBITA margin above 6 percent remains unchanged. The share rose 6.9 percent.
Engineering company Cavotec’s report showed higher revenue and improved operating profit in the third quarter compared with the same quarter last year. Orders received increased and the order backlog reached a record level. This was rewarded with a share price increase of 6.4 percent.
Snus retailer Haypp’s adjusted operating profit in the third quarter came in just over 12 percent below analysts’ expectations, while revenue was in line with consensus. The share fell 8.9 percent.
Plastic manufacturer Arla Plast increased revenue, while operating profit deteriorated in the third quarter compared with the same quarter last year. The share fell 4.2 percent.
Pattern-drawing company Mycronic has received an order for an SLX mask writer from a new customer in Asia. The order value is between USD 4 million and USD 5 million. The share rose 1.2 percent.
S&P Global Ratings lowered Intrum’s outlook to negative from positive and affirmed its B- credit rating. The decision follows a weak third quarter, particularly within credit management. The share fell 3.8 percent.
Home improvement chain Clas Ohlson increased revenue by 19 percent in October compared with the same month last year. Organic growth was 12 percent. The share rose 5.6 percent.
Pharmaceutical company Bioinvent has decided on the terms of the previously announced rights issue of SEK 430 million. The terms are 13:2, meaning that two existing shares entitle the holder to subscribe for 13 new shares at a subscription price of SEK 1 per share. The share plunged 33 percent.
Continuing on the topic of capital raisings, research company Xspray Pharma is carrying out a rights issue of SEK 90 million, with the possibility of an over-allotment of SEK 72 million. The company’s contract manufacturer Nerpharma is also undergoing an unannounced follow-up inspection by the US Food and Drug Administration FDA at its facility in Italy. The share fell 16.2 percent.
Among the day’s analyst recommendations, DNB Carnegie has scrapped its Buy recommendation for Yubico and downgraded it to Hold. The price target is raised from SEK 105 to SEK 145. The share fell 7.2 percent.
Canaccord Genuity raised its recommendation for Lundin Mining to Buy, from Hold. The price target is 37.50 Canadian dollars. The share rose 0.7 percent.
