Morgonrapport: Time for a new high for the year?!?

Monday’s trading consisted of a clear positive sentiment around among the world’s exchanges. Swedish storbolagsindexet OMXS30 index rose +1.07% to 1653.4, while turnover on the stockholm stock exchange amounted to sek 16 billion. In the short term we are approaching an overbought scenario, but the clear focus has been going on for a while now, and indicates that we may be on the verge of breaking to the north…

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Today’s analysis

The week’s trading opened with broad gains around the world. Not only we experienced clear gains in Sweden and around in Europe, but the positive sentiment spread over to the american trade, followed by Asia during the night.

We got a dagshögsta just below the 1655 points, which is a couple points below the high for the year.

In the short term, we are now approaching an overbought scenario, and despite the fact that we got a rise of more than +1 per cent on Monday, was köpstyrkan not as clear as on Friday. The turnover on the stockholm stock exchange was not more than ”mere” 16 billion.

However, is the breadth of the upturn on Monday, a sign of strength, and we now holds two trading days in the baggage, with the closure of plus, and a whole month of concentrated effort and recurring challenges of the high for the year.

This in itself is a clear sign of the mobilization, and the underlying positive momentum indicates that we are on the verge of breaking the north.

We maintain then the former is our assessment that we will initially seek us up to 1670 points, which would mean that we leave the current 1630-1650 range behind us.

Then the probability increases that we can achieve precisely 1700, and possibly to new record levels over 1720…

However, it is not possible completely to ignore the case then we got downs, which meant valiant attempt against 1600 points, during the high turnover and the sales force.

As we highlighted already in this Monday’s weekly OMXS30 analysis, are looking for, we sign of strength when we open us of 1657 points. We want to see a turnover of over 20 billion intraday at such a movement. This would serve as a clear sign of strength, that we are on the way further north, and that there is one more false eruption of 1650 points.

This week’s trade also means a shortened trading week in Sweden, due to the midsummer festivities. Brexit-the negotiations started on Monday, but we saw not any form of abreaction from the world, as reported during the night of Monday, from the Uk.

Leading u.s. semester the S&P 500 traded slightly positive after overnight trading in Asia, which strengthens our faith to have a better mood than expected when we start the Tuesday trade, perhaps it is time for a new high for the year already this week…?

Today’s makroagenda invite not on some significant events, which means that we do not expect any clear moves from a macro-perspective.

Before today’s trading, waiting for technical resistance levels at especially high for the year 1657 points. In the short term we keep track of the levels of support at 1650, 1640, 1630 points.

What hålltider and the company reports the next weeks you can read here.

Hålltider during the day

Company reports

  • MQ (at 7.15)
  • Fedex (at 22.15)

Capital markets day

  • SSAB: 10.00-16.15

Macro statistics

  • Germany: PPI may at 8.00
  • Statistics SWEDEN: unemployment may at 9.30 am
  • ECB: current account balance april at 10.00 am.
  • USA: THREE weekly statistics at 13.45
  • The united states: current account balance 1 kv at 14.30
  • The united states: Redbook weekly statistics at 14.55
  • United states: oil (API), the weekly statistics at 22.30

All börshändelser and estimates for the week can be found here!

Latest börsnyheterna

The stockholm stock exchange rose during the Monday, with the help of a number of cyclical companies, such as SSAB and Atlas Copco.

Storbolagsindexet OMXS30 index closed 1.1 per cent higher. The turnover on the stockholm stock exchange have been summarised to approximately sek 16 billion on Monday. The leading stock exchanges on the continent rose in the neck of the woods around 1 per cent and the weekend’s results in the French elections was singled out as a positive contributing factor.

In Stockholm gave the steel producer SSAB indexstöd with just over 3 percent the rise. The company is holding a capital markets day on Tuesday. In råvarurelaterat step further, Boliden 1.5 per cent.

In the cyclically advanced of Atlas Copco’s A – and B-share by 1.7-1.9%. On analysfronten raised Swedbank recommendation to buy (neutral) while riktkursen pulled up to the 370 from the 355 sek for Atlas Copco. Furthermore within the workshop closed Alfa Laval and Sandvik around 1.7-1.8 percent higher.

Late Friday night, reported the News agency Directly to construction company Skanska has won a us order worth 1,26 billion dollars, equivalent to about sek 11 billion. Share price rose during Monday, and closed 1.8 per cent up.

Electrolux was trading up 1.1 per cent. UBS has raised riktkursen for the share to 320 kronor from the previous 250 sek.

Worse, it went for Getinge whose subsidiaries Datascope need to withdraw the 12,000 units of the intra-aortiska ballongpumpen, IABP, due to possible electrical failure. Nordea Markets estimates that the cost can be up to 120 million. Getinge shares closed 3 per cent lower.

H&M dropped initially on Monday after a lowered the price target from Credit Suisse, which thought it had missed sales targets and rising inventory levels put pressure on H&M’s ability to maintain current dividend policy. Gradually during the trading day recovered, however, the course itself and klädjättens shares closed 0.7 per cent up.

Among the smaller companies have RBC initiated coverage of Hansa Medical with the recommendation outperform and a price target of 310 kronor, a price target just over 50 per cent over Friday’s closing price. Hansa Medical was printed up just over 19 per cent.

Today’s Industry köprekommenderade elinstallationsbolaget Garo in Monday’s edition of the magazine. Share strengthened to near 12 percent.

Börsveckan recommended in its concluding numbers before the summer recess, the purchase of Vicore Pharma and Victoria Park. Vicor Pharma rose 11.5 per cent and Victoria Park, advanced 4.6 per cent. The latter company, Victoria Park, has purchased a property portfolio in Göteborgsförorten Bergsjön for an underlying property value of sek 200 million.

Gruvprospekteringsbolaget Copperstone Resources reported a significant mineralisation at the Svartliden-Eva project in Norrbotten, the stock was a winner with a rise of 14.4 per cent.

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By: Michael Andersson for Tradingportalen/Agency Directly.
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