Stockholm shares close marginally higher, led by Electrolux, Volvo UPDATE |
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Published
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Fri, 09 Mar 2007 18:17
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(updating with full report)STOCKHOLM (AFX) - Share prices closed marginally higher, led by Electrolux and Volvo, dealers said.The OMX Stockholm index closed up 0.06 pct at 387.51, while the OMX Stockholm 30 index gained 0.14 pct to close at 1,188.88.Volvo was up 1.25 pct at 568.00 skr. Chevreux hiked its target price on the share to 670 skr from 640.'We are quite convinced that earnings will be good going forward, and together with a possible spin-off of the Aero and IT services divisions, this is motive for the hike. This is a good time to sell Aero, since it has full order books,' Chevreux said.'Other analysts are too bearish on 2007. We believe the transition to the Powertrain platform will offset the weaker North American market, and we also think Volvo is not as cyclical any more as people think it is,' the investment bank added.Electrolux gained 2.75 pct to 168.00.Elekta added 2.45 pct to 136.00, after yesterday's 11 pct decline. Carnegie reiterated its 'outperform' rating but removed the share from its Carnegie Mover list of most attractive shares.Elekta said it will repurchase 100 mln skr in shares, corresponding to 1 pct of the total number of outstanding shares.Saab shed 0.27 pct to 188.00. The group's unit Saab Space said it has won an order to supply 204 antennae for use in Boeing Space and Intelligence System's new Mobile Satellite Venture (MSV) system satellites.No financial details were disclosed.NCC was flat at 200.00 skr. The company said it has won an order worth 710 mln skr from Varma Mutual Pension Insurance Company, to build a shopping centre in Tornio, Finland.Ericsson was down 0.41 pct at 24.50, while TeliaSonera was flat at 59.25 skr.TeliaSonera AB and LM Ericsson AB said they have won an order from nuclear power plant operator OKG AB, to build an internal enterprise mobile network covering the three nuclear power stations in Oskarshamn, Sweden, that OKG operates.They said that when the system is completed in the summer of 2008, it will be the largest internal enterprise mobile network in Sweden and one of the biggest in the world.The network will consist of 37 mobile base stations and 1,600 indoor antennas.No financial details were disclosed.gustav.sandstrom@thomson.comgs//cmrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Stockholm shares close marginally higher, led by Electrolux, Volvo 