Stockholm Stock Exchange ended the week with a broad rise on Friday. The gain was stronger than those on the leading European exchanges and came after two days of declines.
At the close, the OMXS30 index was up 1.74 percent at 3,258.14. Shares worth approximately SEK 21.5 billion were traded on the Stockholm Stock Exchange.
Among the exchange’s larger industrial sectors, basic resources had the best performance, rising 3.1 percent. At the other end of the scale, telecom was at the bottom, down 0.5 percent
Among the leading shares included in the OMXS30 index, Boliden rose 4.8 percent, while Alfa Laval was up 3.1 percent. Telia had the weakest performance, down 3.7 percent, while Tele 2 B fell 1.8 percent.
Gaming entertainment company MTG decided to postpone the potential stock market listing of PlaySimple, citing prevailing conditions in the Indian capital market. MTG intends to reassess the timing of a possible listing in 2027. MTG shares fell heavily, down 15 percent.
Earnings season began to gather pace. Real estate company Atrium Ljungberg’s report was disappointing. Profit from property management in the third quarter came in 6 percent below analysts’ expectations. The company sees signs of a gradually strengthening market. The share fell 4.5 percent.
Investment company Öresund’s net asset value increased 4.1 percent during the third quarter, which was 1.7 percentage points better than the benchmark index SIX Return Index, which rose 2.4 percent. The share had a volatile day and closed 0.1 percent higher.
Mining company Lundin Gold set a new record with its gold production in the third quarter.
Gold production rose to 153,736 ounces, an increase of 26 percent from the same quarter a year earlier. Gold sales increased 19 percent to 148,326 ounces. The share climbed 8.5 percent.
In addition to interim reports, there were also acquisitions. Measurement technology company Hexagon has agreed to acquire geotechnical software company Rocscience from TA Associates as well as the company’s founders and management. The enterprise value amounts to USD 535 million. At the same time, JP Morgan raised its recommendation on the share to overweight. The share rose 2.9 percent.
Sleep analysis company Sleep Cycles’ board is acquiring Audiowell for SEK 2.3 billion through an issue in kind of 92 million shares at a subscription price of SEK 24.50 per share, corresponding to a premium of 22.6 percent. The share climbed 20 percent.
Space and AI company Spacex has entered into an agreement to buy national spectrum licenses in the US from Grain Management to strengthen its Starlink Mobile mobile service. The news helped weigh on the Swedish telecom operators Tele2 and Telia.
Construction company Skanska won a railway contract in the northeastern US worth SEK 1.3 billion. The share rose 2.1 percent.
Norwegian-Cypriot shipping billionaire John Fredriksen has increased his holding and now controls just over 25 percent of the shares in real estate company Fabege. The share fell 0.4 percent.
Friday also brought a substantial number of stock recommendations, with several major banks receiving upgrades.
Barclays raised SEB and Swedbank to overweight, from equal-weight. At the same time, Handelsbanken was raised to equal-weight, from underweight. SEB rose 2.0 percent, Swedbank gained 1.6 percent and Handelsbanken closed 0.7 percent higher.
Jefferies initiated coverage of Vicore Pharma with a buy recommendation. The share rose 3.5 percent.
Handelsbanken raised Nederman to buy, from hold. The share climbed 6.8 percent.
Tieto fell 2.0 percent. Nordea dropped its buy recommendation and lowered its recommendation to hold.
