At 9:20 AM, the OMXS30 index was up by 0.3% to 2,459, with a total trading volume of 0.8 billion kronor. In Europe, the German DAX remained unchanged, while the CAC 40 in Paris rose by 0.2%.
Within the Swedish large-cap index, most stocks were trading higher, with live casino provider Evolution leading the way with a 2.0% increase following Thursday’s gains. Behind them were mining company Boliden, whose stock rose by 1.8%, and real estate company SBB, which strengthened by 1.6%.
Contrary to the trend, hygiene company Essity saw a 0.2% decline in their stock.
Skanska announced before the opening bell that the construction company had signed an additional agreement in the US worth 2.1 billion kronor. The order pertains to the construction of a data center in the country and is included in the US order intake for the third quarter. The stock climbed by 0.6%.
In terms of earnings, online retailer of snus and tobacco-free snus, Haypp, reported an adjusted operating profit of 34.4 million kronor for the second quarter, up from 20.4 million. Revenue stood at 943 million kronor, representing a 23% growth. The figures were perceived positively, leading to a nearly double-digit increase in the stock price.
Lundin Gold traded up by 8.5% after reporting revenues of 301 million dollars in the latest quarter and an adjusted EBITDA of 195 million dollars, improvements from last year’s 244 million and 150 million dollars, respectively. Looking ahead, the company is on track to meet its full-year production forecast of 450,000 to 500,000 ounces.
Lundin Gold declared a quarterly dividend of $0.20 per share, a doubling from before, and intends to distribute at least $0.20 per share quarterly going forward.
Battery charging company Ctek surged by 14% after posting numbers showing a positive operating profit of 6 million kronor, up from -13 million last year. Sales increased to 212 million kronor, from 199 million last year. Analyst firm Kepler Cheuvreux noted in an update that the growth exceeded their expectations.
Furthermore, Vestum advanced by 3.2% after announcing a new acquisition within its subsidiary Pump Supplies. The acquired company is PDAS Holdings, based in the UK, and had a revenue of over 200 million kronor in its latest financial year.
In terms of recommendations, Handelsbanken resumed coverage of kitchen company Nobia, with a long-term outperform rating and a target price of 8 kronor. In the short term, the recommendation is hold for three months.