On Tuesday managed OMXS30 once again stepping up to 1627 points, but köpstyrkan was not sufficient, and the momentum lost momentum, which meant that we got a finally closure on the minus at -0.35 per cent to 1621.67. The turnover on the stockholm stock exchange amounted to 12 billion, slightly lower, which was expected when the united states held closed. During overnight trading in Asia it is weakly positive attitude that prevails, which means that we are expected to maintain the land within the short-term handelsintervallet 1616-1630 formed in recent trading sessions.
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Today’s analysis
With both closed in the US and lack of surprises from the central bank with an unchanged interest rate announcement, closed the OMXS30 finally on minus.
Again we had resistance around Monday’s dagshögsta just over 1627 points, and after that we finally got a balancing around zero, we shut down in the minus at the 1621.67.
Leading futures indicate that we may get a slightly positive start on Wednesday, which means that there is hope for a challenging of 1630 points.
It is not until the kvällssidan that we must take note of the minutes from the FOMC meeting on June 14 and if this offers something unexpected and helps with the larger movements to the leading u.s. index, the yes then we can get to get an abreaction even on Thursday morning here at home.
Since we had a slightly quieter trade both Monday and Tuesday as a result of the printing, and short trading day in the united states, it is also not so strange that we have not got to see some clearer sign of strength to recovery.
By this we mean that we have not received any decline of 1630 points. We have been on a good way to challenge 1630, however, but never managed to climb back over since we had a påeldat säljhumör.
We see that during the week, just an establishment of 1630 points, regardless of if we get a significant strength or not, during the upturn, otherwise increases the risk for continued consolidation, or a properly challenging of 1600 points cards.
Already next week we will take part of the initial reports, including several real estate companies, and we are looking for positive surprises which could contribute to the renewal of the enhanced positive sentiment and on the rise.
However, we see a higher probability that we later in the year can come to be a turning point that will take us below 1600 points. Maybe rapportsäsongen becomes a final yank to the north, or so we get a further rise thereafter. We must simply wait and see and not speculate too much about future development, but rather to adjust our forecast.
The u.s. dollar has been weak in recent times, during the Monday and Tuesday indicated that we may get a continued recovery, and as we wrote in Monday’s OMXS30 analysis, this is usually positive for the stock market.
As you can see, there are several factors that come into play, and that even indextunga companies like H&M fell as much as -2.1 percent on Tuesday lands like a wet blanket on leading the index OMXS30.
But now the focus will land on the rapportsäsongen in the coming weeks, which also is expected to be the major factor that will contribute to the strength or weakness of the to the OMXS30 index.
The vibes in the leading us S&P 500 contract is more positive this morning, although we only observe a slight increase, which progresses slowly, so we take this as indication that we may get a slightly stronger introduction than expected on Wednesday.
Maybe we can even get to challenge the 1630 points during the morning session on Wednesday with a bit of luck…
Ahead of today’s trade await like on Tuesday, technical resistance levels at 1630, 1640, 1650, 1658, and 1670 points. Underlying support levels, we find that around 1616 and 1600, then 1594, 1588 1580 points.
What hålltider and the company reports the next weeks you can read here.
Yesterday’s main börshändelser.
SKF in the minus after a claim for damages.
Challenging once again the significant support level at 170 crowns!
Kullagerbolaget SKF, stepping down to once again challenge the significant support level at 170 kronor on Tuesday.
The company’s shares fell initially -0.75%, after it revealed in a press release that Daimler AG requires SKF to at least 59 million in damages.
The requirement comes as a result of SKF’s settlement with the EUROPEAN commission in march 2014, in respect of infringements of the european competition law.
The requirement comes despite the fact that SKF previously argued that ”the activities that the EUROPEAN commission’s decision has not caused SKF’s business partners any harm”.
In addition to that, SKF is now at the heavy intensity of 170 kronor, a further trip to the south mean that we also have the challenge of MA 200, which await at sek 169.
The decline on Tuesday at the same time means that we are now challenging the 40-week moving average seriously.
SKF also presents its interim report on 21 July.
SSAB mobilizing before the outbreak?
Challenge once again this year’s peak levels…
Steelmaker SSAB to continue further north on the Tuesday, and thereby challenges the re this year’s peak levels.
Since the end of the year, the company’s share listed a couple of valiant attempts to challenging technical resistance level at $ 40, which noted the historically high volume. In all cases, the shares have rekylerat.
The company’s share price has noted still higher bottoms on the recoils, and in recent weeks, we note the ever more domination from the buyers.
This sends positive signals that the SSAB can be on your way to get an outbreak, for a trip further north towards 50 dollars.
Among analyshusens riktkurser we find, among other things, Pareto on 38 sek, SEB at 45 kronor, Swedbank 42 sek, Berenberg 39:30 sek and Handelsbanken 42 kronor and Nordea for sek 30.
Kindred Group step below the MA 50 after säljrekommendation.
Challenged early on Tuesday, a technical support level at 90 sek.
The gaming company Kindred Group falls further to the south on Tuesday, after by Berenberg initiates coverage with säljrekommendation.
Kindred Group had a guide price of sek 80, and noted early on Tuesday a decline of -2.50%.
The decline means that the share stepped over the short-term MA 50, and challenged at the same time, technical support level at 90 sek.
Unlike Berenberg, left Pareto in the beginning of June, when by took up coverage of the gaming company a “strong buy” recommendation on the Kindred Group, with a target price of sek 110.
Hålltider during the day
Company reports
- Dustin (8.00), Eolus Vind (8.30), Industrivärden (at 10.00 am)
Macro statistics
- Uk: BRC commodity prices, June at 1.00
- Japan: combined PMI June at 1.30
- China: Caixin services PMI June at 3.45
- Silf/Swedbank: services PMI June at 8.30
- SCB: restaurangindex may at 9.30 am
- Statistics SWEDEN: industrial production may at 9.30 am
- Statistics SWEDEN industrial orders may at 9.30 am
- Statistics SWEDEN: the provision of services may at 9.30 am
- EMU: the combined PMI (def) June at 10.00 am.
- United kingdom: the combined PMI June at 10: 30 a.m.
- EMU: retail sales in may, 11.00
- USA: THREE veckoindex at 13.45
- The united states: Redbook weekly statistics at 14.55
- USA: industrial orders may at 16.00
- United states: oil (API), the weekly statistics at 22.30
Other
- Policy: The Institute Of Contemporary
- The Fed: the minutes from the FOMC meeting on 14/6 at 20: 00
- Poland: interest rate announcement
All börshändelser and estimates for the week can be found here!
Latest börsnyheterna
Banks slowed the decline on the stockholm stock exchange during a Tuesday, when the US kept printing, and Sweden, as expected, kept minusräntan unchanged.
”To feel safe with a rate of inflation that is durable is around 2%, is it too early to talk about that change in monetary policy,” said governor Stefan Ingves.
The riksbank left the repo rate unchanged at -0,50%, which all ten respondents analysts have assumed, according to a survey from the SME Directly.
In Europe, major stock markets slightly down, with further gains for commodity companies. The price of north sea oil approached $ 50 the keg. The banking sector remained above the zero mark, and in Stockholm, was fighting SEB, Nordea, Handelsbanken and Swedbank 0.4 to 1.1 per cent up.
Shares for sek 12 billion were traded on the stockholm stock exchange and at the close was storbolagsindexet OMXS30 index 0.4 per cent lower to the level of 1.622.
At the top was inhabited SCA-the spin-off Essity, 1.6 per cent higher in the course 233:50. Nordea initiated coverage on the hygienbolaget with a buy recommendation and price target of 280.
The actual SCA was found on the downside, 1.2 per cent lower since the Nordea lowered its recommendation to retain from the purchase.
H&M fell to 2.1 per cent and weighed on storbolagsindexet with twice as large a circulation as the runner-up Nordea, after lowered price target from Berenberg repeated säljrekommendation for klädaktien.
In the workshop dropped the SKF 1.7 per cent, Atlas Copco 1.2 per cent, Sandvik 0.6 per cent. Daimler requires SKF to at least 59 million euros in damages as a result of SKF’s konkurrensuppgörelse with the EUROPEAN commission-from 2014.
Lifcos subsidiaries Cenika has signed an agreement to purchase the majority of the Norwegian Hydal AS, which is Scandinavia’s leading manufacturer of aluminiumkabinett for outdoor and indoor use. Lifco shares declined 1.9 per cent.
Outside storbolagsindexet raged Net Insight, a provider of tv and media technology, 27 percent on the profit warning. The company and waiting an operating loss of eur 25-30 million for the second quarter, since more complex sales processes led to säljtapp of 30 percent.
Mobilspelbolaget G5 Entertainment’s advanced 10 percent after having announced that the sales lift with preliminary 165 per cent in the second quarter, up from the first quarter of 127 percent.
In the betting, backed Kindred 1.8 per cent while the Betsson was near unchanged. Berenberg has initiated coverage of the companies with the stamps sell respective keep.
Dignitana lifted 12 percent after the expanded approval from the us FDA for its skalpkylningssystem to reduce hair loss during chemotherapy.
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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
1621.67
3479.47
12437.13
7357.23
2429.01
21479.27
6110.06
20051.7
25478.85
1.14
9.67
8.52
46.98
49.55
-0.35%
-0.35%
-0.31%
-0.27%
0.23%
0.61%
0.00%
0.10%
0.35%
0.10%
0.04%
-0.04%
-0.15%
-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
