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The Stockholm bourse opens up for the fourth consecutive day


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Thursday, 25 August 2011
Trading on the Stockholm Stock Exchange began with the up beats mood observed since last Friday. By 10 hours Swedish time, the index of the Swedish leading shares OMX 30 was up by 0.87 percent to 924.21

The rise was in line with developments in the leading stock exchanges in Europe and Asia.
All industry indexes were on the rise. Swedbank is at the moment the winner among the big corporations on the OMXS30, rising 2.0 percent. Astra goes alone against the tide among large companies, down 0.6 percent.

Research Company, Karolinska Development remains unchanged after having reported a reduced loss.
Nokia, which in the morning announced it is launching new phone models, saw its share rising by 1.7 percent. The new phones are two new low-cost handsets, the Nokia 100 and Nokia 101. The purpose of the launch is to strengthen Nokia's position in the war for market share in emerging countries.

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The banking sector was one of the winners and all the major banks are listed stable gains. Best joined SEB and Swedbank, which rose 1.5 and 2.1 percent. Also engineering and other more cyclical companies performed strong. Sandvik climbed 1.6 percent while SKF traded up 1.9 percent. The automotive sector was also enjoying a rise of 1.6 percent for Volvo and 2.0 percent for Scania.

The holding Black Earth Farming falls 5.0 percent after having reported a decrease in operating profit.
During the morning there have been a number of Swedish figures, including the unemployment rate, which fell to 6.9 percent in July. It was lower than the 7.2 percent analysts had expected, according to Reuters.

The Swedish Business Tendency Survey from the Institute of Economic Research showed in the morning a worse mood among Swedish households. The confidence indicator for households fell nearly eight points and is now at its lowest level since 2009, according to the institute.

The market is still waiting on the Federal Reserve chairman Ben Bernanke's speech tomorrow. He is expected to possibly introduce some form of incentive for the U.S. economy.
Details on the market performance later in the day
By Scancomark.se Team


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