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The Stock Exchange Opens Slightly Down - Saab Reports Upwards

The Stockholm Stock Exchange starts the report-heavy Tuesday slightly down. Among the winners is the reporting defense conglomerate Saab, which rises by 3 percent.

» Updated: Today, 09:05

» Published: Today, 07:22

The Stock Exchange Opens Slightly Down - Saab Reports Upwards
Photo: Anders Wiklund/TT

The OMXS index is down 0.1 percent in early trading.

The share price increase for Saab comes after the defense group exceeded expectations for both profit and order intake in the third quarter, which means that the Saab share has risen by 53 percent since the turn of the year.

Mining group Boliden is another reporting winner. The share is up 7.3 percent after a significantly better result than expected.

Truck manufacturer Traton, with Scania in its portfolio, is also doing well – up 4 percent after a reversed profit warning after the market closed on Monday.

However, housing developer JM is still facing headwinds and is doing slightly worse than expected. The share is down 2.6.

Among the reporting companies, one also finds property companies Wallenstam and Fabege, whose shares are down 1.3 and 2.9 percent, respectively.

Mobile operator Tele2 is also retreating after a report, down 1.5 percent.

Risk capitalist Ratos, with crisis-hit Plantagen in its portfolio, reports a slightly worse operating result than expected and a declining sales trend. The share is down 3.9 percent.

Climat control company Munters' report for the third quarter was also worse than expected, for both sales and order intake and profit. The share is plummeting by over 10 percent.

The development on Wall Street was mixed on Monday and it has also been a mixed bag on leading Asian exchanges overnight, with increases on the Chinese exchanges and declines on the Tokyo exchange.

Everyone on the market who is worried about the economy will get a new forecast from the International Monetary Fund (IMF) to digest this afternoon.

The krona, which has lost strength recently, is still hovering around its lowest level against the dollar since August at 10.54 kronor per dollar.

The Stockholm stock exchange started the trading week with a 0.9 percent decline on Monday, partly because industrial group Sandvik's quarterly report was unexpectedly weak and the share fell by 2.1 percent.

Since the turn of the year, the Stockholm stock exchange has risen by 9.4 percent.

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By TTThis article has been altered and translated by Sweden Herald

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