Stockholm Stock Exchange saw a rise of 1.0% in the OMXS30 index, reaching 2,426 at 9:45 am. Trading volume reached 1.5 billion. European markets also showed positive movement, with the German DAX index up by 0.4%, the CAC 40 futures in Paris climbing 0.6%, and the FTSE 100 in London up by 0.9%.
Most major companies in the index were in the green, with real estate company SBB and cloud-based communication services provider Sinch leading the way, up by 3.0% and 2.4% respectively. The only company in the red was telecom giant Ericsson, down by 0.4%.
In individual company news, retail company Clas Ohlson reported a 12% increase in organic sales, excluding the acquired Spares group, during the month of July. Analysts had expected an increase of 7.3%. Clas Ohlson’s stock rose by 7.7%.
Additionally, EQT saw a 2.3% increase after announcing the acquisition of a majority stake in Acronis, a cybersecurity and data protection company for businesses. The transaction is expected to be completed in the first half of 2025, with the EQT X fund expected to be 40-45% invested after the deal.
Technology company Sivers Semiconductors signed an agreement to merge its subsidiary Sivers Photonic with Bynordic Acquisition Corporation, a US-listed special purpose acquisition company. The move is expected to unlock significant value and create an independent, US-listed entity, bringing Sivers Photonic closer to investors, customers, and partners in the American AI ecosystem. The stock surged by 26%.
Shamaran Petroleum rose by 6.6% after completing the acquisition of Taqa Atrush and selling an indirect stake in Atrush to HKN Energy, a deal announced on January 22nd of this year.
Research company Xspray, reporting for the second quarter, posted an operating loss of 54.1 million SEK, compared to 51.3 million SEK in the same period last year. Xspray, like last year, had no net revenue. Xspray’s stock was up by 9.4%.
Online casino game developer Fantasma Games saw a 6.1% increase after reporting for the second quarter. EBITDA results reached 4.5 million SEK, compared to 1.5 million SEK in the same period last year.