At the close of trading, the OMXS30 index was down 0.54% to 2,493.48. Approximately SEK 17.6 billion worth of stocks were traded on the Stockholm Stock Exchange.
Among the larger industrial sectors on the exchange, the telecommunications sector saw the best performance with an increase of 0.58%. On the other hand, consumer goods were at the bottom with a decline of 1.43%.
Within the leading stocks included in the OMXS30 index, SBB B saw a rise of 3.9%, while Saab was up 3.6%. Arctic raised its recommendation on SBB to a buy, from hold, with a target price of 6 SEK. The worst performer was Electrolux with a decrease of 2.2%, while Swedbank was down 1.8%.
Embracer saw a rise in its stock price following news about Asmodee. The gaming company outlined financial goals and dividend policies for Asmodee, a board game company set to be spun off to shareholders and listed as a separate entity by the end of March 2025. However, Embracer’s stock fell by 2.4%.
In terms of insider trading, Maha Energy reported higher revenue despite being weighed down by an unrealized loss from the market value of Brava Energia. The stock rose by 3.5%.
Pandox, a hotel property company, acquired the Radisson Blu Hotel in Tromsø, Norway, for 750 million Norwegian kronor. The hotel, leased to Radisson Blu, features 269 rooms. The stock was up 0.2%.
E-commerce company Nelly announced an upcoming extraordinary general meeting in mid-December to decide on a dividend of 0.83 SEK per share. This news caused the stock to rise by 2.0%.
Intrum, a credit management company, saw its stock price increase by 2.2% after Chairman Magnus Lindquist purchased shares worth 14 million SEK.
SEB identified structural challenges in the forestry and garden products company Husqvarna, leading the bank to downgrade its recommendation from hold to sell. The target price was reduced from 85 to 57 SEK, resulting in a 4.9% decline in the stock price.
Kjell & Company, a home electronics retailer, faced concerns about its balance sheet strength, with speculation of a potential new share issue if holiday sales were weak. As a result, the stock fell by 11.4%.
Overall, the day’s trading activity reflected a mix of positive and negative developments across various sectors, highlighting the dynamic nature of the stock market. Investors will continue to monitor these factors closely to make informed decisions in the ever-changing financial landscape.