## Market Update: Swedish Stock Market Performance at 09:30
At 09:30, the Swedish large-cap index was down 0.1% to 2,572, following a 0.8% decline on Thursday due to slightly higher-than-expected US inflation data for September. Approximately 1 billion SEK worth of stock trades were made on the Stockholm Stock Exchange in the first half-hour of trading.
### Saab Continues to Decline
Defense company Saab, which fell by 6% on Thursday, dropped another 2% on high volume after the US Department of Justice requested information about Brazil’s purchase of 36 Gripen fighter jets. Despite SEB lowering the target price and reiterating a hold recommendation, citing the recent decline in stock price relative to other defense companies, they still find the stock appealing in the long run.
### SEB’s Positive Outlook on Mildef
SEB also raised its target price for Mildef, a provider of tactical IT, from 90 to 102 SEK, with a buy recommendation. The stock surged by 3.7% and has gained 43% since the beginning of the year.
### Volvo Faces Target Price Cut
Volvo, the second most traded stock in the OMXS30 index, had its target price lowered by investment bank Citi, leading to a drop of over 1% in its stock price. Meanwhile, real estate company SBB rose by 1.5% and fashion retailer H&M by 0.9%.
### Truecaller Continues to Shine
Truecaller, which has been performing well in recent weeks, saw a further 6% increase in its stock price after Carnegie raised the target price and reiterated a buy recommendation.
## Earnings Season Begins
The earnings season is slowly kicking off with interim reports from companies like real estate firm Atrium Ljungberg and investment company Creades.
### Atrium Ljungberg’s Positive Results
Atrium Ljungberg saw a 0.7% increase following its third-quarter gross profit of 546 million SEK, exceeding analysts’ average expectation of 537 million SEK.
### Creades’ Substantial Value Growth
Creades’ net asset value slightly underperformed the index in the past quarter, resulting in a 0.8% decline in its stock price.
### Nordic Paper Acquisition Bid
Nordic Paper saw a marginal increase after Strategic Value Partners made a bid of 50 SEK per share, slightly below Thursday’s closing price. The board recommends shareholders to decline the offer.
### Troax Receives Buy Recommendation
Troax, a provider of indoor area protection, received an upgraded buy recommendation from Carnegie, leading to a 2% increase in its stock price.
### Changes in Footway Leadership
Footway announced that Daniel Mühlbach intends to step down from the CEO position of the e-commerce company.
## Analysis
This comprehensive market update provides insights into the recent performance of key companies in the Swedish stock market. Investors should pay attention to the following points:
– Saab’s decline due to US Department of Justice inquiry
– SEB’s positive outlook on Mildef
– Volvo’s target price cut by Citi
– Truecaller’s continued growth
– Atrium Ljungberg’s strong financial results
– Creades’ performance compared to the index
– Nordic Paper’s acquisition bid
– Troax’s buy recommendation from Carnegie
– Footway’s upcoming leadership change
Understanding these market dynamics can help investors make informed decisions about their portfolios and financial future. Keep track of these developments to stay ahead in the ever-changing world of finance.