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Stockholm Stock Exchange wobbles up on Wednesday


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Wednesday, 14 September 2011
Stockholm Stock Exchange began Wednesday's trading with some falls as it looks as its natural lure continues, but then turned up.  OMXS30 index rose 0.7 percent to 884 with turnover reaching Skr1.9 billion after some 50 minutes of trading.

On today's agenda is Sandvik, which is having capital that started at the 10 hours, Swedish time shares rose 1.0 percent.
Swedbank has put brakes on share repurchases until further notice because of the intensified financial turmoil in Europe.  Swedbank’s Shares fell 4.2 percent to Skr74.20 as the most traded.

Construction Company, Peab has acquired 2.08 million shares in the Finnish construction company Lemmink�inen, representing 10.6 percent of capital and votes in the company. The deal was done through direct purchase of 1.14 million shares on the Nasdaq OMX Helsinki, and signed by futures contracts for the purchase of 0.94 million shares.

"We had the opportunity to acquire a major item in Lemmink�inen and the current price levels, we see shares as an attractive financial investment with good expected yields. The deal will also be reviewed by our faith in a good long-term development in the Nordic construction market, "said Peab's CEO Jan Johansson in a statement.

Lemmink�inen is listed on the Helsinki Stock Exchange. The share closed at €19.39 yesterday and that of Peab rose 1.2 percent.

Skanska has been commissioned to decorate and complete the underground extension of Line 7 from Times Square to West 25 Street and 11 Avenue in Manhattan, New York. The project is a joint venture between Skanska and Rail Works, in which Skanska's share is 75 percent. Skanska's share of the contract is worth $ 386 million or about Skr2.4 billion, which is included in order bookings for the third quarter. The customer is the Metropolitan Transportation Authority in New York.
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Skanska has also sold the office property Hagaporten 3 in Solna, Stockholm. The sales price amounts to EUR 1.1 billion. The buyer is Norrporten. The buyer takes the property in the fourth quarter. Shares rose 1.4 percent.

Security Company, Securitas has acquired 51 percent stake in the Turkish security company Sensormatic Guvenlik Group. The enterprise value of the acquisition is 51 percent of the shares, estimated to Skr118 million. An agreement has been reached to acquire remaining shares of Sensormatic in the future. Shares rose 0.6 percent.

Alliance Oil has completed the infrastructure and commenced production at Kolvinskoye. To date, 17 production wells are drilled in the field and another five wells are in completion. At the end of the year, 24 wells are planned to be in production. Tests of the infrastructure have begun and oil from the completed wells has begun to flow into the pipeline in order to build up the production flow. The initial flow rate per oil well is on average between 1200 and 1500 barrels per day. Shares rose 3.0 percent.

Clothes Company Wesc reported a profit before tax of Skr 6.4 million (Skr12million) for the first quarter of the split financial year 2011/2012. Wesc reiterated its goal to achieve a sales growth of 15 and 20 percent in fiscal 2011/2012. The forecast is calculated in local currencies. The operating margin target for the 2011/2012 financial year is 10 to12 percent, which is also a repeat of the previous forecast. Shares fell 2.4 percent to Skr50.25.
By Scancomark.se Team


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