The stock market in Europe experienced a downward trend, with the OMXS30 index in Stockholm falling by 1.82% to 2,501.57 at the close of trading. A total of approximately 22.6 billion kronor worth of shares were traded on the Stockholm Stock Exchange.
All major industrial sectors saw declines, with real estate experiencing the largest drop of 2.7%, followed by a 0.9% decrease in the telecommunications sector.
Among the leading stocks included in the OMXS30 index, Saab saw a 0.3% increase, while SBB B was down 0.3%. Sinch had the worst performance, dropping by 5.4%, and Kinnevik fell by 3.4%.
One of the standout performers was Stora Enso, a forestry company that saw a 1% increase after announcing a major deal to sell 12.4% of its forest holdings in Sweden. The deal, valued at 900 million euros (approximately 9.8 billion kronor), was made with a newly formed company in which Stora Enso retains a 15% ownership stake. The sale of assets was done at their book value.
In the forestry sector, SCA B was down 0.6%, while Holmen declined by 1.6%.
Cinclus Pharma, a pharmaceutical development company, entered into a strategic alliance and licensing agreement with the European company Zentiva for the commercialization and production of the drug candidate linaprazan glurate in Europe. The total transaction value amounted to 220 million euros (nearly 2.4 billion kronor), including an initial payment of 13 million euros and milestone payments. Cinclus Pharma’s stock surged by almost 59%.
The reporting period continued with gaming company Embracer presenting Q4 figures that were significantly higher than expected in terms of adjusted operating profit, although sales were in line with expectations. The organic sales growth in the quarter was 19%, but the guidance for Q1 fell short of analyst expectations, causing the stock to drop by 17%.
Better Collective, a betting and affiliate company, reported lower revenue and earnings in the first quarter compared to the same quarter last year. The company maintained its full-year forecast and reiterated its goals for 2026 and 2027. The stock rose by 1.5%.
Bioarctic, a research company that had previously seen an 11% increase, experienced a 12.1% decline. American pharmaceutical company Eli Lilly received market approval in Australia for its Alzheimer’s drug Kisunla, which competes with Bioarctic’s drug Leqembi (lecanemab) that was not approved in Australia earlier this year.
In the afternoon, Bioarctic received a recommendation from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMA) for orphan medicinal classification for exidavnemab for the treatment of multiple system atrophy (MSA).
Real estate company Intea completed a directed share issue of 1.056 billion kronor. The subscription price was 66 kronor per B share, representing a 4.7% discount compared to Wednesday’s closing price. The stock declined by 2.1%.
CTEK, a battery charging company, saw a 5.1% increase. The company announced new financial targets for 2028, aiming for 2 billion kronor in net sales and an adjusted EBITDA margin of 20%.
Overall, the European stock market experienced a mixed day of trading, with some companies seeing significant gains while others faced losses. The market remains volatile as investors navigate economic uncertainties and changing industry dynamics.