The Stockholm Stock Exchange opened lower as expected on Tuesday, with attention focused on the earnings season.
At around 09:20, the OMXS30 index was down 0.37 percent at 3,213.52. Shares worth approximately SEK 1.3 billion were traded on the Stockholm Stock Exchange.
Energy posted the strongest performance among the exchange’s major industrial sectors, rising 0.8 percent. At the other end, consumer staples was the weakest sector, down 0.9 percent.
Among the leading shares included in the OMXS30 index, Alfa Laval rose 0.9 percent, while Boliden was up 0.8 percent. Hexagon B posted the weakest performance, down 1.6 percent, while Essity B fell 1.4 percent.
Pharmaceutical company Sobi rose 1.8 percent after adjusted EBITA of SEK 4,087 million exceeded expectations of SEK 3,664 million. The company raised its revenue forecast to between the upper end of the ten-percent range and the lower end of the twenty-percent range at constant exchange rates. The forecast for the adjusted EBITA margin was reiterated.
Industrial company Alfa Laval’s order intake amounted to SEK 23.2 billion, more than 14 percent higher than expected. Adjusted EBITA was meanwhile in line with expectations.
Lock manufacturer Assa Abloy’s operating profit rose to SEK 7,102 million, approximately 2.6 percent higher than expected. The share fell 0.2 percent.
Technology company Tieto fell more than 5 percent despite adjusted EBITA of EUR 70.2 million exceeding expectations of EUR 65 million. The company simultaneously raised its forecast for the full-year adjusted EBITA margin to 15.5–16.0 percent, from 14.8–15.8 percent previously.
Aerospace technology company CTT Systems increased revenue and operating profit in the third quarter. Operating profit rose to SEK 23.1 million from SEK 18.6 million. The growth forecast for the aftermarket was raised to 20–25 percent, while the forecast for OEM was adjusted to 45–50 percent. The share rose just under 6 percent.
Contract manufacturer Hanza, whose share rose more than 3 percent, significantly increased revenue and improved operating profit in the third quarter. The company reiterated its financial targets and estimates that revenue can reach SEK 14 billion in 2028 even without further acquisitions.
Audiobook company Storytel’s revenue exceeded expectations, while adjusted EBITDA was in line with consensus. The company reiterated its full-year forecast of SEK 900 million in adjusted EBITDA. The share rose 2.1 percent.
Technology company Micro Systemation, MSAB, announced that illegal copies of an older version of the XRY Pro software are being sold online following a data breach at a customer. The company emphasized that its own security procedures had not failed and assessed that the incident would have no commercial impact. The share fell 6 percent.
Steel company SSAB’s A share fell 1.7 percent and is in focus after Reuters reported that the US and Canada are negotiating lower US tariffs on Canadian steel and cars. The negotiations are taking place after earlier trade talks collapsed in August.
Specialty steel company Alleima, which fell 13 percent yesterday following the report, continued lower, down 5.4 percent.
Appliance manufacturer Electrolux received an upgraded recommendation from DNB Carnegie to Buy from Hold. The price target was simultaneously raised to SEK 50 from SEK 26. The share rose 3.1 percent.
