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Telecommunication played a long game that lifted the Stockholm Stock Exchange in early trade on Wednesday

Wednesday, 19 October 2011
Tele2 and TeliaSonera rose in opening trade in Stockholm after having submitted their performance during the third quarter and consolidated their outlook for the full year 2011.

There where however, a long list of big corporations that presented their interim reports for the third quarter this morning but the Stenbeck’s  mobile operator Tele 2 seem to have carried the day with the most attractive results.

Late in the Swedish morning, 1155 am, the index of the most traded companies, OMXS30 was slightly up 0,5 percent.


In the early trading, on Wednesday Tele2 up 3.4 percent to Skr 135:20 and TeliaSonera rose 0.8 percent to Skr 46:45.
Nordea, the first Swedish bank to report for the third quarter, traded up 0.1 percent at Skr56:30 after having submitted underlying quarterly results that were in line with expectations form analysts the various Swedish analytical media house News Agency Directly spoke to.

Saab was up 0.4 percent to Skr 133:00 after a report with an operating profit slightly above expectations, according to analysts.
Ericsson, which released its figures for the third quarter, the first in the morning, fell by 2.7 percent.
Among the smaller reporting companies Micronic Mydata was all out with a gain of 4.0 percent to Skr10.50, while Transcom leaned on the downside after it announced a rights issue in connection with its interim report. Shares were down 9.0 percent at Skr4:55.

Concentric, which earlier this year spunned off from Haldex, was also a winner. The share rose by 7.0 percent since the company reported a hefty profit boost.

Transcom, Stenbeck customer service companies, fell by 10 percent after having reported a loss and flagged for a new issue of half a billion Kronor. Byggmax, additional reporting companies, rose by 1.4 percent.
By Scancomark.se Team


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