The courses listed on the Stockholm Stock Exchange was just below zero in the opening Wednesday trade. This morning’s report from Lundin Petroleum surprised positively while Mekonomen’s performance was well below expectations. Investor traded ex-dividend weighed on the index.
Six General index was at 10.05 down 0.4 percent to 455 while the OMXS30 index backed off 0.3 per cent to 1.328. The turnover was 2.7 billion kronor on the Stockholm Stock Exchange.
There are a lot of companies traded ex-dividend on Wednesday, including Investor AB, Hexagon, Billerud and Peab. The utdelningsjusterade stock index SIX Return index was down 0.1 percent at 879.
Investor backed off with 11 representing 3.9%, which was more than the dividend of SEK 10. Even big banks helped a bit with the falls of 0.5–1.1 percent.
The oil company Lundin Petroleum’s earnings in the first quarter surprised on the positive side, compared with Inquiry Financial’s consensus. Mining costs were a record low during the period and to repeated production projections for 2016. In addition, increased process capacity target of Johan Svedrup field. Share rose 1.1%.
Mekonomen’s results in the first quarter came in well below the
Inquiry Financials consensus while sales came in slightly above. It was the Swedish branch of the company that had the greatest negative impact on income, the report showed.
Handelsbanken was counting on that the shares were weak and so was the case. Mekonomen backed 4.9%.
The newly-listed mobile game company Leo Vegas adjusted ebitda increased to EUR 4 million, from 0.2 million last year. Share rose 1.4 percent.
Both the Wise Group and Softronic increased but decreased results in its first quarter. The shares fell 6.5 6.0 per cent respectively.
Among other reporting companies synthesis Sweco and Alltele 8.2 per cent higher respectively 5.2. Eltel was down 1.6%.
Precise Biometrics algorithm has been incorporated into several new areas moduleFingerprints in the Internet of Things. Share rushed 16 percent. Fingerprint was 0.7%.
Camurus added 5.3 per cent after positive data from a phase II study with CAM2038.
Oasmia was up 4.2 per cent. SIX News reported shortly before closing time on Tuesday that the company is in advanced discussions with five or six parties on a licensing of the technology behind XR17.
The front has increased its recommendation for Nordea Ratos keep from previous sales. Swedbank has raised the Atlas Copco from neutral to buy. Ratos 0.1 per cent and were down 0.4 percent Atlas up.
The business community recommended purchase of Uniflex, NetEnt and Itab in its last edition while Holmen got recommendation wait.
Itab and 4.8 percent respectively 5.5 Uniflex advanced. Netent step 1.1% and 0.2% Holmen dropped.
This afternoon presented the official u.s. oil inventories. According to the Trade Association API increased us stockpiles with 3.4 million barrels last week.