The Stockholm stock exchange opened Wednesday’s trading around flat, with interim reports in focus. At the same time, the market is awaiting this evening’s interest rate decision from the Federal Reserve. The interest rate is expected to be left unchanged, but signals on future monetary policy are taking center stage. Over the coming days, important technology reports are also expected from Alphabet, Microsoft and Amazon.
At around 09.20–, the OMXS30 index was down 0.08 percent at 3,253.81. Shares worth approximately SEK 1.5 billion were traded on the Stockholm stock exchange.
Among the exchange’s major industrial sectors, healthcare performed best, rising 0.2 percent. At the other end of the scale, basic resources were at the bottom, down 0.6 percent.
Among the leading stocks included in the OMXS30 index, ABB rose 0.5 percent, while Evolution was up 0.5 percent. SCA B performed worst, down 1.2 percent, while Ericsson B was down 0.8 percent.
SSAB’s EBITDA result exceeded analysts’ expectations and amounted to SEK 3,259 million, compared with the expected SEK 3,184 million. The outcome was thus 2.4 percent higher than consensus. The A share fell 2.1 percent.
Electrolux Professional’s adjusted EBITA result amounted to SEK 372 million in the third quarter, which was 8.8 percent above analysts’ expectations of SEK 342 million. The share rose 4.2 percent.
Construction company Peab increased operating profit by almost 13 percent to SEK 1,296 million. The operating margin also strengthened to 7.9 percent from 7.4 percent. The share was up 0.6 percent.
Podcast platform Acast increased revenue by 24.9 percent to SEK 802.3 million in the third quarter. Operating profit improved sharply, and EBITDA amounted to SEK 73.7 million, corresponding to a margin of 9 percent. The share fell just under 7 percent.
Lighting group Fagerhult’s adjusted EBITA result fell to SEK 129.6 million, compared with SEK 173.4 million in the corresponding period of the previous year. The share plunged 22 percent.
Forestry company Stora Enso fell 2.5 percent. Sector peer UPM is falling just over 6 percent after its interim report, which was worse than expected.
Pharmaceutical company Sobi receives an upgraded recommendation from Pareto Securities, which raises its rating to Buy from Hold. The price target is simultaneously raised to SEK 530 from SEK 480 previously. The share rose 2.3 percent.
