Several of the stock exchange’s real estate companies were under pressure, while Boliden, on the other hand, was among the winners, after Carnegie upgraded the mining stock. Saab began to fall steeply in the morning, as did German sector colleague Rheinmetall.
Around 1:00 p.m., the large-cap index OMXS30 had fallen 0.2 percent to 2,518 and shares worth SEK 6.2 billion were traded on the Stockholm Stock Exchange.
Within the OMXS30, the measurement technology company Hexagon, Swedbank and the lock company Assa Abloy were among the losers with declines of around 1 percent each.
The mining company Boliden, on the other hand, was up nearly 3 percent to SEK 341:30. Carnegie has raised its recommendation for the share to buy from hold and raised the target price to 385 from 274 kroner. At the same time, Kepler Cheuvreux has raised its target price for Boliden to SEK 370 (330).
However, the strongest within the OMXS30 for the day was the heat pump manufacturer Nibe, which increased by just over 3 percent.
The defense company Saab began to fall around 10.45 a.m. and the decline was down 9.4 percent at lunchtime, while the company’s German sector colleague Rheinmetall also retreated sharply and was down around 8 percent. In the market, the movements were explained with a Goldman Sachs analysis, where the bank, given the current valuations of the European defense companies, sees a greater downside than upside.
Several real estate companies were also traded down since a number of research houses downgraded shares in the sector. Fabege retreated just over 4 percent, Diös was down around 1 percent and Wihlborgs fell 1.7 percent since Handelsbanken lowered its long-term recommendations for the shares. In the sector, Wallenstam also retreated, with 4 percent, while Castellum fell 1 percent. Nordea has downgraded Wallenstam to sell (hold) and Castellum to hold (buy).
Mips advanced just over 8 percent to SEK 365:60 after SEB took up coverage of the helmet technology company with a buy recommendation and a target price of SEK 485.
Tehtys Oil strengthened 4.6 percent. Contributing was information from Bloomberg News that the company is conducting a strategic review, which may include a sale. In response to questions from Direkt, however, the company stated that nothing concrete had been said about a sale.
The pharmaceutical company Moberg Pharma, on the other hand, was squeezed by 6.5 percent. Dagens Industri sees a high risk in the stock, which has surged 600 percent since the end of 2023.
Immunovia rallied 42 percent after the diagnostics company announced it had successfully developed precise assays to measure proteins for next-generation tests.