The Stockholm Stock Exchange was trading down at lunchtime on Tuesday. The trend is mixed on the leading European stock exchanges, with a slight increase in Frankfurt, irregular trading in London, and a decline in Paris. In the news flow, Rusta is climbing on a strong interim report. Investors are still waiting for the big event of the week, the Federal Reserve's interest rate announcement on Wednesday evening.
At 1 p.m., the OMXS30 index was down 0.43 percent to 2,811.68. Shares worth approximately SEK 5.2 billion were traded on the Stockholm Stock Exchange.
The best performance among the stock market's major industrial sectors was consumer goods, with an increase of 0.2 percent. At the other end of the scale, energy was at the bottom with a decline of 1.5 percent.
Among the leading stocks included in the OMXS30 index, Saab B rose 3.3 percent, while Astra Zeneca was up 0.8 percent. Volvo B performed worst, down 2.3 percent, while Nibe B was down 1.7 percent.
The low-price chain Rusta presented a strong report for the second quarter of the fiscal year. Sales rose by 8.3 percent and organic growth was 5.6 percent. EBITA improved by 45 percent compared with the corresponding quarter last year. The number of store openings is expected to be in the upper range of 50 to 80 new stores over the next three years. The share climbed 12 percent.
Mining company Lundin Gold aims to extract between 475,000 and 525,000 ounces of gold next year, according to a recent guidance. The same guidance applies to 2027 and 2028. The new forecast represents an expanded range at the lower end of this year's forecast of 490,000 to 525,000 ounces. The share fell 1.5 percent.
Defense company Saab was, as usual, the most traded stock with a good upturn. In the sector, it is noted that next week, the German parliament is expected to approve 29 procurements worth a total of EUR 52 billion in a major effort to strengthen the Bundeswehr.
Pharmaceutical company Sobi's share price was pressured by reports to Reuters that the US will review treatments for RS virus, which is a source of income for the company. The share fell 5.6 percent.
Door and window manufacturer Inwido is acquiring the British Victorian House Window Group for £60 million, equivalent to just over SEK 750 million, on a cash and debt-free basis. Inwido is also acquiring the AJM Group and entering the new market of Slovenia. The share rose 2.0 percent.
Construction company Skanska secured two more contracts related to the construction of data centers in the US, worth a total of SEK 1.6 billion. The share was up 0.1 percent.
Wesports, a specialist group in sports and leisure equipment, began trading on First North. The offer was oversubscribed several times. When trading began, the share price fell. The last price paid was SEK 74.12, a decline of 7.4 percent compared with the subscription price of SEK 80.
Car dealer Bilia rose 1.5 percent. Handelsbanken considers the valuation attractive as the bank initiates coverage with a buy recommendation and a target price of SEK 150.
Vehicle manufacturer Volvo's decline is explained by Deutsche Bank dropping its buy recommendation and lowering its recommendation to hold.
Venture capital firm EQT rose 0.4 percent. JP Morgan raised its recommendation to overweight from neutral.
BNP Paribas raised its recommendation for Epiroc to outperform from neutral, which led to a 0.3 percent increase. However, the same bank lowered its recommendations for SKF and Traton from outperform to neutral. SKF fell 1.3 percent, while Traton lost 2.5 percent.
Rusta AB (publ) is a Sweden-based company that offers a wide range of functional and trendy home and leisure products . The Company offers a wide but curated assortment of home and leisure products, with good quality at low prices. Its store network is complemented by Rustaâs online sales channel, Rusta Online, that operates in Sweden and Finland. The Companyâs business is divided into three segments: Sweden, Norway and Other markets, where the Sweden segment includes sales in physical stores in Sweden, the Norway segment includes sales in physical stores in Norway and the Other markets segment includes sales in physical stores in Finland and Germany as well as online sales through Rusta Online.
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