STOCKHOLM (Nyhetsbyrån Direkt) The Stockholm Stock Exchange was up a little after lunchtime on Thursday. The rates took a step up in connection with the Riksbank’s monetary policy announcement, which meant a new key interest rate increase of 75 points, in line with most analysts’ main scenario, and an interest rate path that peaks at 2.84 percent for the next few years. Several property company shares advanced around a handful of percent.

At 1 p.m., the Swedish large company index OMXS30 was up 0.2 percent to the level of 2,114. Shares worth SEK 6.5 billion had then been traded on the Stockholm Stock Exchange, where the broader index performed somewhat stronger than the large-cap index.

Other European and Asian stock exchanges were also generally up by half to one percent, although some declines were seen in China linked to increased covid anxiety in the country.

In the property sector, Balder and Sagax rose by 5 percent, Castellum and Wallenstam by 3 percent, while Corem Property climbed 6 percent. SBB rose 4 percent and was the strongest performer in the OMXS30.

Similar to the day before, growth-oriented stocks such as the cloud communication service company Sinch and the investment company Kinnevik performed strongly. Outside of the large company index, gains of around 6-8 percent were seen for companies such as the e-tailers BHG Group and Boozt, the solar energy company Soltech Energy and the gaming company Embracer.

Radiation therapy company Elekta rose 1 percent after reporting a 14 percent lower adjusted operating profit than analysts had expected, according to Infront. Turnover and order intake were, however, slightly above estimates. Elekta anticipates that the situation within the supply chains will gradually improve during the February-April quarter, after a continued feared negative impact during the current quarter.

So far, Elekta has had to take somewhat less costs than expected connected to the savings program, Elekta’s CEO Gustaf Salford told Nyhetsbyrån Direkt.

The fiber company Hexatronic has entered into an agreement to acquire Knet, active in microduct solutions for the telecom industry, for an expected purchase price of 63 million dollars. The stock, which has performed very strongly this year, advanced 2 percent.

The major owner of the crisis preparedness company 4C Strategies – Priveq – has sold close to 17 percent of the outstanding shares in 4C Strategies to institutional investors. The share fell 6 percent to SEK 37.75.

The biometrics company Fingerprint Cards climbed 6 percent after signing an agreement with the German semiconductor company Infineon to jointly develop and sell Secora Pay Bio, a total solution for payment cards.

Beijer Electronics advanced 2.5 percent since the company presented new financial targets.

“We operate in markets and in segments with strong underlying growth and have shown that we have the ability to grow faster than the market,” said Beijer Electronics CEO Jenny Sjödahl to Nyhetsbyrån Direkt.

At lunchtime, the import, agency and trading company Malmbergs Elektriska reported brighter figures for the third quarter with the support of increased sales after implemented market investments, good inventory and compensation for certain cost increases. The stock rose 6 percent.

Home electronics chain Elon’s third quarter was largely marked by the merger with Electra Gruppen in May. Similar to the market, Elon’s turnover has decreased during the year when rising interest rates have reduced the space for durable goods in the consumer’s wallet, says CEO Stefan Lebrot. However, the stock rose 2 percent in choppy trading.

Scandinavian Biogas has received a binding offer from Aneo Renewables of SEK 15.45 in cash per share, just below Wednesday’s closing price. The share fell 1 percent to SEK 15.68.

Seatwirl, active in floating offshore wind power, fell 14 percent after news of a rights issue of almost SEK 65 million. From the issue front, it can also be noted that First North-listed Redwood Pharma’s rights issue was only about 45 percent subscribed. The stock fell 4 percent.

Several companies have announced CEO changes. Industrigruppen Infreea’s board has decided to dismiss CEO Tony Andersson. The stock was down 4 percent.

At the same time, e-commerce company Pierce’s CEO Henrik Zadig has announced his resignation to join the venture capital industry. The stock retreated 4 percent.

Graph: The large-cap index OMXS30 on Thursday, Nov. 24

Source: Infront

The article is in Swedish


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