After an initially rise that challenged the high for the year at 1657 points, we had a steady decline the remainder of the trading day. The turnover on the stockholm stock exchange amounted to 22 billion dollars on Wednesday. The u.s. central bank raised the very real policy rate 25 basis points on Wednesday night, but gave no decisive movements in either the index or dollars under what we had expected. With a few hours left until today’s trading opens, points leading futures at an opening in the negative territory.
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On Wednesday challenged we have already initially high for the year at 1657 points, and thus gained a slightly better opening than expected. We had to experience a steady decline the remainder of the day, which at first had difficulties to step in the technical nyckelnivån 1650 points.
Despite the fact that we got a turnover of over 22 billion dollars on Wednesday, dominated, not the sellers with any significant strength. In Europe, however, was German ledarhunden the DAX in the forefront on Wednesday, but fell here in the latter part of the day, despite everything closing at plus.
In the US we got something mixed trend on Wednesday night, and no major movements occurred in either the index or the dollar, in conjunction with the Fed, as expected, raised its key interest rate 25 basis points to the range of 1.00-1.25%.
After overnight trading in Asia, it is clear, however, negative progressions. For example, Hong Kong is down over -1%, and the u.s. leading the semester, the S&P 500 is on the sour mood with a quarter of a percent down, which further lies like a wet blanket for today’s trading.
This means that we now expect an initially opening in negative territory on Thursday, continued in the technical nyckelnivån 1640 points.
In today’s makroagenda is interest rate announcement from the uk central bank, but is expected to leave its key interest rate unchanged. We expect no adverse information, then we feel that the political game is going on in the Uk, holding back the Bank of England.
After Wednesday’s decline, we are once again back in the 1640 points. Because we expect an initially decline on Thursday, we keep an extra eye on 1630 points.
What we don’t want to see is, that we get a decline and the establishment in this intensity, in order not to risk a further decline in the future. However, we believe that despite a massive turnover on Wednesday, when the vendors do not dominate with a strong sales force, this further is a sign that the buyers are dominating behind the scenes.
We have also previously noted, broadly continued to trade within the 1630-1650 points, and difficulties to an outbreak of the high for the year is hardly unexpected.
We note the clear volume at the high for the year 1657 points since the end of april, and we believe rather that the event of an outbreak in the future, that we get a movement of the heavier nature of the intraday in such a scenario.
On aktiefronten today, we believe that, among other things, we may get pushed during the day, then the Cevian Capital has increased its ownership further. The protagonist Christer Gardell commented to Dagens Industri that ”We believe that there is a large, realize the potential of the company”.
Also H&M leaves the sales figures of may already at 08:00 this morning, and this indextunga klädbolag can give tailwind to the north as the south, in unexpected numbers.
Technical resistance levels await in the OMXS30, especially during the 1640, 1650, and the year high at 1657. In the short term we keep track of the particular support level at 1630. Then await a heavy support at the sentimental heltalsnivån 1600 points.
What hålltider and the company reports the next weeks you can read here.
Yesterday’s main börshändelser.
Can Thursday’s sales figures to turn on the mood of Hennes & Mauritz?!?
On Thursday at 08:00 is the time for H&M to present the sales figures for may, which will be a preview ahead of the report at the end of June.
The company’s shares continue to be clearly pressured, after earlier establishment, under the technical nyckelnivån at 220 sek.
H&M has lost over 16% since the end of the year, and was noted earlier in the week around the femårslägsta levels.
Branschkollegan Inditex, which owns, inter alia, Zara, delivered on Wednesday a profit after tax for the period February-april 654 million euros in the split financial year 2017/2018, in line with expectations.
If two weeks is also H&M on the tour, then the company on June 29 will present the results for the period march-may.
Focus on the time in the Fingerprint Cards…?
We are faced with a new challenging resistance at the 38 crowns?!?
A week ago, have Fingerprint Cards taken back clear land, with a rise of more than +17 percent, and the outbreak of sek 32.
In the short term, it looks like that we are experiencing forces, facing a new challenging technical resistance at 38 crowns in the future.
A clear balancing continues even around $ 35, and a more clear establishment of the short-term 50-day moving average has occurred.
In the news, it appeared as late as Wednesday that the company takes place in Swedbank’s ”Small Cap portfolio”, which already has a “strong buy” recommendation and a target price of 50 crowns in Fingerprint Cards.
The company has also, according to a press release on Tuesday, started cooperation with the Hong Kong-based modulhuset Biel Crystal, an industry leader for coverslips in several area, including mobile phones and tablets.
”We also believe that consensus is too optimistic about the recovery in the second half of 2017, and we continue to see evidence that the FPC is losing market share,” wrote Carnegie on Monday, which repeated the previous säljrekommendation and a target price of sek 22.
Hexagon rushing on försäljningsrykten!
The company is reported to have discussed a sale of the company to an american or european competitor, according to the Wall Street Journal.
Hexagon soars over 16% on Wednesday morning, after it emerged försäljningsrykten. Wednesday’s rise means that the company notes the new high for the year, and all time high at 445 sek.
The Wall Street Journal referring to not named sources, that the company is reported to have discussed a sale of the company to an american or european competitor for approximately 20 billion dollars.
Hexagon is reported to be in an early stage in the discussions, which very well may mean that the company decides not to sell.
Two factors reported on Wednesday to be the basis as to why the company is discussing the sale. First and foremost, insideråtalet against the company’s ceo, Ola Rollén, where the trial is estimated to fall, and also ”the faltering health of the principal owner, Mekler Schörling”.
”Hexagon regularly evaluate various opportunities for the company’s future direction in order to optimize its positioning and shareholder value.” commented the company in a press release on Wednesday, which is not confirm but also did not belie the WSJ data.
Hålltider during the day
- Biovica (changed date from 14/6)
- H&M presents the sales figures for may at 8.00
- B&B Tools (the first day of trading without the right to receive the dividend of shares in Momentum Group)
- Australia: unemployment rate of may at 3.30
- Mäklarstatistik: house prices may at 6.00
- AF: the unemployment rate may at 8.00
- Finland: GDP and indicator april at 8.00
- France: CPI (def) may at 8.45
- Valueguard: house prices may at 9.00 am
- Uk: retail sales in may at 10: 30 a.m.
- EMU: trade balance april at 11.00
- USA: import prices may at 14.30
- USA: new-the unemployed, the weekly statistics at 14.30
- USA: Philadelphia Fed index June at 14.30
- United states: industrial production, capacity utilisation may at 15: 15
- United states: Bloomberg consumer confidence, veckosiffra at 15: 45
- USA: NAHB, husmarknadsindex June at 16: 00
- EMU eurogroup meeting in Luxembourg 15.00
- BOE: interest rate announcement at 13: 00
All börshändelser and estimates for the week can be found here!
The stockholm stock exchange began Wednesday on the plus. The Index decreased gradually, and had, at the time of the US stock exchanges opening wiped out all of the previous upturn. Additional pressure came from the u.s. oljelagerrapporten shortly after that. Among individual companies in the advanced, Hexagon, while the Getinge went in the opposite direction.
At the time of closing was storbolagsindexet OMXS30 index down 0.6 per cent to the level of 1.640. Net sales landed at 22,0 billion.
The Wall Street Journal reported on Tuesday, citing anonymous sources, the measurement technology company Hexagon discussing a sale of the company to an american or european competitor for approximately 20 billion dollars. This amount is equivalent to 174 billion, and is approximately 28% higher than the market capitalisation with Tuesday’s closing price. Hexagon rose 11%.
As a comment to the Wall Street Journal’s data wrote the Hexagon in a press release to various opportunities for the company’s future direction in order to optimize the positioning and shareholder value is regularly evaluated.
”If these evaluations would lead to any concrete results, the market will promptly be informed”, was called it.
Hexagon’s principal owner is Melker Schörling AB, rose 4.7 per cent.
Getinge fell 5.4 per cent after the notice of a new issue of about sek 4 billion. The issue, which is fully underwritten, will reduce net debt to 3,02 from the previous 3,67 times operating profit.
”I see this as an aggressive bet and it has nothing to with Hechingen to do,” says Getinge’s major shareholder Carl Bennet to the News agency Directly, speaking of the German manufacturing facility, which in recent years was reviewed by the U.S. health authority FDA for its views on the business.
The price of oil fell by almost 3 per cent and north sea oil was quoted at levels below 47 dollars per barrel. Wednesday’s inventories from the united states confirmed a smaller reduction of stocks than expected, for signals of an unexpected increase on Tuesday night.
Guldbolaget Semafo termed as ”grabbing” of Today’s industry and was up 2.8 per cent. Christian Berner lifted 8 per cent after the advice in the world of Business.
Drönarbolaget Eads slumped 29 per cent after that on Tuesday night he announced that it finds itself in a strained financial situation. The capital for the ongoing operation is expected to be exhausted in the end of June 2017 if no additional capital is provided.
Scandic Hotels fell just over 3 percent, to 113:75 sek. SEB Equities has lowered the recommendation to sell from the keep with a price target of sek 100.
On the Wednesday afternoon release of the Federal Reserve its rate statements. The market is virtually unanimous that the Fed will raise styrränteintervallet by 25 basis points to 1.00-1.25 per cent. At the subsequent press conference, the focus is inter alia on the Fed’s new forecasts.
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By: Michael Andersson for Tradingportalen/Agency Directly.
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