The OMXS30 index closed down by 0.54% at 2,493.48, with stocks worth approximately 17.6 billion kronor traded on the Stockholm Stock Exchange.
Among the major industrial sectors on the exchange, the telecom sector saw the best performance with a 0.58% increase, while consumer goods lagged behind with a decline of 1.43%.
In terms of leading stocks in the OMXS30 index, SBB Group saw a 3.9% increase, driven by Arctic’s upgrade of its recommendation to a buy with a target price of 6 kronor. On the other hand, Electrolux experienced a 2.2% decrease, and Swedbank was down by 1.8%.
Embracer, a gaming company, saw a rise in its stock price following the announcement of financial goals and a dividend policy for Asmodee, a board game company set to be spun off as a separate entity by March 2025.
Maha Energy reported higher revenue but also noted a net loss due to an unrealized loss from the market value of Brava Energia. The company’s stock rose by 3.5%.
Pandox, a hotel real estate company, acquired the Radisson Blu Hotel in Tromsø, Norway, for 750 million Norwegian kroner. The hotel, leased to Radisson Blu, has 269 rooms. The stock was up by 0.2%.
Intrum, a credit management company, saw a 2.2% increase in its stock price after the company’s chairman, Magnus Lindquist, purchased shares worth 14 million kronor.
SEB downgraded its rating on Husqvarna, a forestry and garden products company, from hold to sell, citing structural challenges. The stock fell by 4.9%.
Kjell & Company, an electronics retailer, faced a 11.4% drop in its stock price after reports of a weak balance sheet and the possibility of a new share issuance if holiday sales are poor.
Overall, the Stockholm Stock Exchange witnessed a mix of ups and downs among various sectors and companies, reflecting the complex and dynamic nature of the market. Investors will be closely watching for further developments and announcements from these companies to gauge their future performance.