The Stock Exchanges on Monday
By 9.40 the Stockholm Stock Exchange’s OMXS30 had advanced 0.5 percent to the level of 1,665.
On leading European exchanges, the German DAX index was up 0.6 percent, while French CAC40 rose 0.3 percent.
Volvo was among the winners within the Stockholm Stock Exchange’s major company index OMXS30 with an increase of 1.6 percent to SEK 146.75. The truck group has increased its target price to 200 from SEK 150 from Carnegie, which repeats the recommendation purchase.
Assa Abloy also performed better, rising 1.7 percent. The lock company has signed an agreement with the Italian FAAC Group to divest certain activities as concessions to the EU in connection with the acquisition of Agta Record. The divested business had a turnover of about 93 million in 2019, which corresponds to about 20 percent of the initial sales. The sale price for the sale amounts to EUR 100 million on a debt-free basis and is expected to be completed during the third quarter of this year.
Boliden and SSAB each strengthened 1.6 percent.
This was somewhat worse for SCA, which traded down 0.5 percent. Defensive Swedish Match and Essity retreated 1.2 and 0.4 percent respectively. Tele2 and Telia fell just over 0.3 per cent each. H&M reversed 0.6 percent. The fashion giant has in the morning received its benchmark rate both lowered and elevated by several analysis houses after the company issued a report last Friday.
Outside of the large corporate index, Ambea returned 3.7 percent. The caring company’s CEO, Fredrik Gren, has on his own initiative chosen to leave the post after sitting in the CEO’s chair for almost 10 years.
SBB initiates a collaboration with Odalen Real Estate through a joint company to scale up new construction of community properties with a focus on primarily elderly housing. The B share was down 0.6 percent. Worth noting is that the company traded excluding dividends for its B and D shares on Monday.
Gaming operator Betsson establishes itself in the US market for online sports betting by entering into an agreement with partner Dostal Alley Casino. The agreement, which initially runs for ten years, gives Betsson an opportunity to conduct B2C online sports betting operations in the US state of Colorado. The stock advanced 3.4 percent.