SBB and SEB Two of the Day’s Loser OMXS30 -0.6%

STOCKHOLM (Nyhetsbyrån Direkt) The Stockholm Stock Exchange fell slightly on Tuesday and was therefore one of the weakest exchanges in Europe today.

The changed recommendations made an impression on prices and one of the affected stocks was SBB, which fell after it was downgraded by Carnegie.

In conclusion, the index of the large Swedish company OMXS30 fell by 0.6 percent to 2213 and shares worth 20.3 billion SEK were traded on the Stockholm Stock Exchange. In the rest of Europe, the DAX index of the Frankfurt Stock Exchange rose 0.3 percent, while the CAC 40 index in Paris gained the same amount.

Real estate company SBB, which performed strongly on Monday, was the worst performer in the large-cap index with a decline of 5.4 percent. Carnegie downgraded its recommendation to hold off on the stock.

At the bottom of the OMXS30 was also SEB, which received a downgrade to hold from Nordea Markets and lost 3.7 percent. Cinch fell 5.6 percent and Electrolux 3.4 percent. Electrolux competitor Whirlpool has announced that it is putting large portions of its operations in Europe, the Middle East and Africa into a joint venture with Turkey’s Arcelik.

On the other hand, ABB rose 1.9 percent. Redburn Partners has raised its recommendation for the stock in a two-step buy-from-sell. The winner that day was Evolution, which led by 2%.

Outside the large-cap index, Atrium Ljungberg, which Carnegie also downgraded to hold, fell 3.3 percent. Shares of the real estate companies Fabege and K-Fastigheter, which Carnegie instead raised to buy, rose 2 and 4.6 percent, respectively.

Ventilation company Systemair traded up 2.2 percent after announcing that the first two months of the company’s third quarter (November 2022 – January 2023) were strong in terms of sales. The ventilation company said sales for November and December 2022 exceeded the same period last year by 31 percent.

Energy storage company Azelio will not meet its 2023 delivery target, and projections for when it will reach positive cash flow are delayed, which means the company will need new financing this year. The share fell 36 percent to 0:92 SEK.

Biosimilar developer Xbrane Biopharma fared better and rose 8 percent on the news that the company, along with partner Stada Arzneimittel, received approval in the UK for the biosimilar Ximluci from the country’s medicines authority.

Bozet, which issued a reverse earnings warning last week, extended a gain of another 0.7 percent. ABG Sundal Collier has raised its recommendation for the buy-from-hold fashion electronic retailer.

Sensam’s chairman, Peter Tornquist, bought shares in the company for about SEK 650,000. The stock rose 0.9 percent.

Ecorub has signed a cooperation agreement worth just over SEK 1 million with a Swedish tire recycling company. Companies must work together to address expired tires in Norland. The stock rose 11 percent.

Green landscaping business also rose, boosting 3.7 percent. Affärsvärlden advises buying the stake, which indicates that the company has shown strong growth in recent years, has a business that is independent of the economic cycle and still has good acquisition opportunities.

OMXS30 on Tuesday, January 17th

Source: Infront