Stockholm shares slightly higher midday, Lundin Mining lower on Q4 |
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Published
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Thu, 22 Feb 2007 12:44
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STOCKHOLM (AFX) - Shares remained in marginally positive territory in midday trade, off slightly from morning levels, with Lundin Mining trending lower after its weaker-than-expected fourth-quarter results, dealers said.At 1.05 pm, the OMX Stockholm index was up 0.78 pct at 391.46 points, while the OMX Stockholm 30 index was up 1.04 pct at 1,202.51.The main sub-indices that were moving at midday were industrials, up 0.73 pct; banks, 1.43 pct lower; and telecommunication services, up 0.89 pct.The major movers within these indices were Sandvik, up 2.16 pct at 118 skr; Swedbank A, 3.67 pct higher at 262.50; and TeliaSonera, up 0.85 pct at 59.25.Lundin Mining was down at 1.96 pct at 75. Its fourth-quarter pretax came in below expectations but was boosted by unexpected gains from derivatives contracts, dealers said.Mining peer Boliden was up 2.21 pct at 150.50.SAS was up 0.19 pct at 134.75. The share was downgraded to 'Underperform' from 'Outperform' by Carnegie.'The turnaround seems already discounted in the share price, and the risk is on the downside. The stock is more than fully valued at these levels, both from a DCF and a relative perspective,' the investment bank said.TF.TFN-EuropeStockholm@thomson.comhc/ms1COPYRIGHTCopyright AFX News Limited 2006. 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 slightly higher midday led by miners 