INDEX STRENGTHENS, ELECT UP ON REPORT, OMXS30 +0.5%

STOCKHOLM (Nyhetsbyrån Direkt) The Stockholm Stock Exchange traded at lunchtime on Thursday with an increasing positive trend. Support came from American stock market futures and above all the Nasdaq 100 futures, which were up nearly 2 percent in the wake of hardware company Nvidia’s well-received report on Wednesday evening.

The radiation therapy system company Elekta was clearly approved for this morning’s report where, among other things, the adjusted operating profit was higher than expected.

At 12:30, the Swedish large company index OMXS30 had risen 0.5 percent to 2,240 and shares worth SEK 6.0 billion were simultaneously traded on the Stockholm Stock Exchange. In the rest of Europe, the German DAX was unchanged and the Paris Stock Exchange’s CAC40 index retreated 0.2 percent.

Elekta traded up 1.8 percent after this morning’s quarterly report, where the adjusted operating profit was 24 percent higher than expected. The radiation therapy system company sees a strong position for future revenue growth through its order book, according to CEO Gustaf Salford.

Among the large companies within the OMXS30, Atlas Copco was at the top with a price increase of 2.3 percent for the A share. It can be noted that Atlas Copco through the Vacuum Technology business area has extensive connections to the semiconductor sector, which was bought up globally after the Nvidia report.

Ericsson rose 2.2 percent and Sinch was up 3 percent. On the losing side, Nibe and H&M retreated the most, the shares were down 2 percent each. Pressured real estate company SBB fell a further 1.4 percent.

The gaming company Embracer, which plummeted 45 percent on Wednesday after negative news in connection with the company’s quarterly report, has received a long series of lowered target prices after the report. SEB and Kepler Cheuvreux write in recent analyzes that divestments or closures may be required of the company in the future. The stock was unchanged at SEK 22:77 after alternating between plus and minus during the morning.

Eltel, which signed a new contract with Vattenfall Eldistribución worth SEK 585 million regarding smart electricity meters, advanced 11 percent.

Bioinvent lifted 5.6 percent after announcing what the company described as positive phase 1a data regarding the oncolytic virus BT-001 for the treatment of solid tumors.

Tobii rose 1.7 percent on news that Japan’s Sony has sold close to 600,000 copies of its Playstation VR2 headset in the first six weeks after launch.

Saab has received an order worth SEK 900 million from BAE Systems Hägglunds, regarding aiming and fire control capabilities for the CV90 combat vehicle, which Slovakia ordered at the end of 2022. Saab was up 0.3 percent.

On the statistical front, US GDP figures for the first quarter are expected at 2:30 p.m. Swedish time.

OMXS30 on Thursday, May 25

Source: Infront