Stockholm Stock Exchange: Okay the market seems to be holding – let’s watch and see…


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Monday, 22 August 2011
Okay the Stockholm Stock market seem to be holding with the sceptical momentum it got up with on Monday. It seems it is going on as time now is post midday and the market is trading at a gain of 2.4 percent.

The market has been begging for good news, irrespective of the triviality of the good news. Therefore news from Libya and its effects on the oil market seem to be one of the good news the market could accept for now. After all, there is still the waited Friday's speech by Fed Chairman Ben Bernanke about the macro economic situation in the USA.

Shortly after lunch OMXS30 had risen by 1.6 percent to 891.2. Turnover on the Stockholm Stock Exchange amounted to Skr5.8 billion, while the consolidated turnover, which also includes Burgundy, Chi-X, Turquoise and Bats, amounted to Skr8.1 billion.

Sandvik's share, which was hearty sour dough, recently, recoiled and was up 3.3 percent to Skr 75:25.
TeliaSonera continued its morning march with its shares trading strongly, rising by 3.4 percent to Skr 43:30. H&M B shares were up 2.6 percent to Skr 192:80.
Pharmaceutical companies Astra Zeneca and MEDA A shares steamed at 2.4 and 6.7 percent to Skr295:10 and Skr67:55 respectively.

Electrolux announced on Monday morning that it wants to buy 64 percent of the Chilean domestic appliance group Compania Tecno Industrial, CTI, and intends to bid for the remainder in the nearest future. Already on Friday Electrolux confirmed that it had had discussions with Sigdo Koppers about a possible acquisition of CTI. Electrolux B shares were down 0.2 percent to Skr 100:80.

Ratos has received recommendation of lowered sales from neutral from the investment bank UBS after Friday's report. Ratos B shares dives 1.2 percent to Skr 96:05.

B�rsveckan, a Swedish stock analysis firms, recommended the purchase of the shares of the bank, Handelsbanken which has presented a probable strongest balance sheet of the Swedish banking sector so far. It is the most important attribute for a bank right now, according B�rsveckan. A more stable revenue mix and deferred dividend capacity makes the bank’s shares merchantable, according B�rsveckan.

B�rsveckan recommended the sell of SEB shares which it describe its shares as the “wrong bank shares to hold right now”. For the other banks, Nordea and Swedbank, B�rsveckan recommended recommendation shares dealer to wait with their shares.

Handelsbankens’s A shares rose by 1.3 percent to Skr166, SEB A shares was up as much to Skr35:65, while Swedbank A shares and Nordea shares rose 0.4 and 1.6 percent, to Skr81:15 and Skr54:05 respectively.

Outside the banking sector was the company, New Wave and gaming company, G5 Entertainment which had merchantable shares according to B�rsveckan.
New Wave was up 5.3 percent at Skr27:70 while the G5 Entertainment shares advanced 6.1 percent to Skr 22:70.
Among small companies rose Tethys oil was up 13.3 percent to Skr40:80 after reporting on Monday morning.
Trading continues however and anything can happen to change the market fortunes.
By Tem

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