Stockholm Stock Exchange riding high in early Tuesday trading


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Tuesday, 30 August 2011
Stockholm Stock Exchange woke with additional confidence after yesterday’s impressive closing. So trading in Tuesday kicked off in positive territory.

After less than an hours trading, the OMXS index was up 0.7 percent. All industry indexes stood were looking the positive ways except telecoms companies that were trading just below zero.
Truck manufacturer Volvo rose by 1.4 percent after it announced that in July it delivered 16,898 trucks, an increase of 18 percent compared to July 2010. Deliveries from Volvo Trucks increased 18 per cent on the year to 16,898 vehicles in July. Volvo Group deliveries in Europe rose by 36 percent to 6,612 vehicles in July. In North America, deliveries rose by 51 percent to 2,553 trucks, Asia declined by 13 percent to 4,078 trucks and South America rose 44 percent to 2,426 trucks.

One reason for the good stock market mood was news that on Monday two Greek banks merged – that is a merger between the Alpha and EFG Eurobank. The merger strengthened the shares of the sector on the Wall Street, and the Stockholm bank shares went well up in the morning. As such Swedbank rose by 1.9 percent, SEB increased 1.4 percent and both Handelsbanken and Nordea climbed 0.5 percent respectively.

Most of the large cap list on the OMXS 30 was up 2.3 percent - TeliaSonera, Astra Zeneca and Hennes & Mauritz went against the stream and fell in the range of minus 0.3 to 0.6 percent.

Medical technology company RaySearch reported a profit before tax of Skr 0.2 million against Skr13million, similar period a year ago, for the second quarter of 2011. Net profit amounted to Skr -0.3 million, unlike Skr 9.1 same period in the past, while net sales amounted to Skr 25 million, in the past was Skr33million.

RaySearch number of sold licenses fell to 421 against 568 in the past, during the first half of 2011, with fixed exchange rate corresponding to a revenue decrease of 10.4 percent. The decrease in the number of licenses is mainly due to lower volumes of sales through Philips that make up the bulk of sales partners. Shares fell 3.8 percent.

Entertainment Company 2E Group Chairman Robert Mesterton has at his own request, for personal reasons, chose to resign as chairman. He exits at the same time from the Board. The director H�kan Str�ng has been appointed the new chairman. He is president of IHM Business School and was elected to the Board at the 2010 AGM. No movements have been observed in its shares.
By Team

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