The OMXS30 continued further to the south on Friday, after initially positive attitude. Storbolagsindexet closed at the lowest price level since the end of april, -0.66% at 1602.50 points. Turnover was still high, but still slightly lower than on Thursday and amounted to just over sek 19 billion. The USA closed weak on plus on Friday, and this is also the vibes during last night’s trading in Asia. Leading futures pointing to a slightly positive start on Monday…
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Today’s analysis
After that we are already on Thursday was alarming force in the OMXS30, we continued further south on Friday, after an initially rise to 1620 points.
The OMXS30 closed at dagslägsta 1602.50 points, which means that are just above the sentimental heltalsnivån and technical nyckelnivån 1600 points.
The short-term storbolagsindexet also heavily oversold at 18.18 in the RSI indicator, suggesting that we should get a rebound.
Despite a continued decline that is now a challenge to our positivity, we note that the decline was slightly weaker force on Friday. Perhaps not surprisingly, then buyers should step forward and provide a proper match at this important support level.
Leading the futures as the us S&P 500 are traded on the plus after the night’s trading in Asia, as in addition to the stock market index, the oil is on the plus.
It is therefore slightly positive noises this morning, and we expected to open approximately 1609 points, with a couple hours left until the stockholm stock exchange opens.
We see Friday’s big decline, as an additional warning sign, and a more significant such.
There are still köpstyrka enough to take us further north, or is this the beginning of a turning point we see?
We are still awaiting an establishment in the 1600 points in a scenario with greatly increased force, before we get all worried.
Until such a scenario arises, we hold a positive view, yet a more cautious one right now.
OMXS30 index would need to climb back above the 1630 points in strength within a short time, in order not to increase the risk for a continued decline.
In addition to 1630, we see clearly in our daily chart below that during the recurring intervals experienced strong resistance from the sellers around the high for the year 1657 points.
This means that if an outbreak of this 1657 points occurs, and with strength, well, is still a challenging of the sentimental heltalsnivån 1700 and an all-time high 1720 points left in the game.
As we already wrote last Friday, so it is soon time for some more reports to start coming in. H&M and Kappahl delivered surprisingly positive outcome of the previous week, and further indextunga company, with reports of a little more than a week.
For today’s trading are still awaiting technical resistance levels already in 1616, 1630, 1640, 1650, 1658, and 1670 points. Underlying levels of support are found, in particular at 1600, then 1594, and 1588 1580 points.
What hålltider and the company reports the next weeks you can read here.
Friday’s main börshändelser.
Time for the Haldex to challenge the 100 bucks…?
Fell like a stone on Friday morning after the board of directors withdraws its support of Knorr-Bremses bid.
Haldex fell initially over 10 percent on Friday morning, after it was revealed in a press release that the company’s board of directors withdraws its support of Knorr-Bremses bid.
”Haldex board of directors is of the weight of evidence assessment that the probability of Knorr-Bremse to obtain the necessary competition clearances is very low and therefore choose to no longer assist the Knorr-Bremse in the work with the merger clearance from the authorities. The board will also disagree that the Board approve an extension of the Knorr-Bremses bud”, is called it in the press release.
Knorr-Bremses bid of sek 125 per Haldex share was published already in the beginning of september 2016 and are conditional upon obtaining a licence from the relevant competition authorities and, under the Holdings owned Knorr-Bremse 14.92 per cent of Haldex on september 23, 2016.
The bus company Nobina slows down after the report.
Fell initially over the -9 per cent, while profit after tax came in sharply below analysts ‘ expectations.
The bus company Nobina reported on Friday a profit before tax significantly below the expected 83.7 million, 50 million, in the first quarter of the broken financial year (march-may, 2017/2018).
Also sales growth came in below expectations of 2.3 percent. Expected was a sales growth of 2.5 percent.
According to the company’s ceo, there were several factors behind the lower profitability.
”We start the year with a quarter where we increased sales in all of our countries, but where last year’s comprehensive kontraktsmigreringar with large trafikstarter continues to burden the result. Higher temporary recruitment costs and a weaker development in the inter-regional traffic also contributed to the profitability was lower compared with the same quarter of the previous year.
Which possession stands out the most in your portfolio since the end of the year?
From our previous issue in december, only has the PowerCell demonstrated strength in years.
The first half of the year, Tobii, with 38 per cent of the votes went on to the greatest setback, with the decline in -41.25% since the end of the year.
Despite a negative development for Orexo in the year, we have since may been given a clear sideways movement. Mobilization before the outbreak?!?
So far leads the PowerCell in the trio, and has been since the end of the year risen the full +18.50%!
Hålltider during the day
Ex-dividend
- Stendörren (0:50 sek quarterly)
Macro statistics
- BOJ: Tankan-report 2 kv at 1.50
- China: Caixin industry-manufacturing PMI June at 3.45
- Silf/Swedbank: industry-PMI June at 8.30
- Norway: industry-PMI June at 9.00 am
- EMU: industrial-manufacturing PMI (def) June at 10.00 am.
- Uk: industry-PMI June at 10: 30 a.m.
- AF: the weekly statistics at 10.45
- Denmark: industry-PMI June at 11.00
- EMU: unemployment rate in may at 11: 00 a.m.
- ECB: bond purchases at 15: 45
- United states: Markit (def) industry-manufacturing PMI at 15: 45
- United states: the ISM industrial-manufacturing PMI June at 16: 00
- United states: investment in construction may at 16.00
Other
- Policy: The Institute Of Contemporary
- The riksbank: monetary policy meeting (interest rate announcement 4/7) at 9: 00 am
All börshändelser and estimates for the week can be found here!
Latest börsnyheterna
The stockholm stock exchange was trading erratically during the first six months of the last day of trading and ended the day sour. The major european exchanges closed also negative.
Storbolagsindexet OMXS30 was down 0.7 percent to 1.603. During the first half of the year, summarised the rise, however, to nearly 6 percent for the storbolagsindexet. Turnover reached nearly 19 billion kronor on the stockholm stock exchange.
”The stock market broke on Friday its uppgångssvit at 11 months. It is both logical and healthy, with a break in the upturn. The OMXS30 index is trading within a consolidation with support around 1.600 and resistance at 1.657. The market is awaiting the reports for the second quarter, and the next week we also get some guidance from inköpscheferna.”, commented Erik Hansén, market analyst at IG, the News agency Directly.
Financial market volatility has increased recently following signals from several major central banks to the ultra-light monetary policy may be coming to an end with rising interest rates as a result. In the stock market have in recent weeks skönjts a particular concern for the valuation of technology stocks fell, mainly in the united states.
On börsgolvet got to H&M after his report to see his price target reduced to 190 sek of both Deutsche Bank and JP Morgan from the earlier sek 200. DNB and Goldman Sachs raised on the other hand, riktkurser for the clothing chain with 5 crowns, to the 225 or 200 sek.
Dagens Industri wrote that about H&M long-term can reach up to their expectations of an annual growth rate of online sales ”is the share an urgent buy.” H&M shares dropped marginally to just under sek 210.
Positive signals from the Volvo main lastbilsmarknader speak for uppjusterade expectations and to share hit the stock market index for the rest of 2017, writes Dagens Industri. The biggest threat is if the strong the european market turns down. Volvoaktien advanced marginally.
Nobinas report was a rough miss against resultatförväntningarna, while sales were in line with expectations. The net income of 35 million was 46 per cent in the SME expectations of eur 64.7 million. Shares fell nearly 6 per cent.
Haldex board of directors, which has withdrawn its support for the Knorr-Bremses bid, was negatively impacted by a kurstapp of just over 7 percent to 106 kroner.
Sensys Gatso has signed a strategic cooperation agreement with Ricardo, Rail. The agreement relating to the sale and manufacture of systems for the automatic monitoring of pantographs on trains. Sensys rushed off 23 per cent on the news.
Leo Vegas fell around 7 percent after the Carnegie lowered its recommendation to retain from the purchase after spelaktiens strong share price performance so far this year.
Kycklingproducenten Scandi Standard and added a nice week to file after the acquisition, the height recommendation from the Carnegie and insynsköp. On Friday, the climbed share a further 6 per cent.
The Opus dropped 4 percent after the allegation of breach of contract and demands for several million dollars.
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Recent trends (~there is a 06:40)
The OMXS30
EURO STOXX 50
Frankfurt DAX
The London FTSE 100
THE S&P 500
The DJIA
The Nasdaq Comp.
The NIKKEI 225
HANG SENG
EUR/USD
EUR/SEK
USD/SEK
WTI Semester
Brent Semester
1602.53
3441.88
12325.12
7312.72
2423.41
21349.63
6140.42
20077.67
25784.79
1.14
9.62
8.43
46.19
48.83
-0.66%
-0.85%
-0.73%
0.00%
0.15%
0.29%
-0.06%
0.22%
0.08%
-0.14%
-0.16%
0.04%
0.33%
0.12%
Stock and Technical Analysis each day at 10.00 am
By: Michael Andersson for Tradingportalen/Agency Directly.
Questions and comments always welcome in the newsroom[at]tradingportalen.com
