Stockholm shares slightly higher early on bargain hunting |
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Mon, 26 Feb 2007 10:34
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STOCKHOLM (AFX) - Shares were slightly higher in early trade on bargain hunting after last week's weakness, dealers said.At 10.15 am, the OMX Stockholm index was up 0.77 pct at 400.05, and the OMX Stockholm 30 was up 0.84 pct at 1,228.61. Turnover was 3.32 bln skr.'It is the spring break this week in Stockholm, and it is noticeable in terms of lower activity levels,' a dealer said.Ericsson B was up 0.58 pct at 26 and Nokia flat at 161.25.Ericsson announced a 106 nkr per share or 8.9 bln skr net cash bid for Norway's Tandberg Television in order to boost its IPTV product offering.Analysts said the bid was industrially correct, but will have only a minor impact on Ericsson's financials.'The acquisition will be a significant enhancement for Ericsson (its product offering), and we know that Ericsson is planning a push into IPTV in the second half,' an analyst at a European investment bank said.Among the telecom operators, TeliaSonera was up 2.46 pct at 62.50, and Tele2 B up 0.45 pct at 112.25.SKF B was up 0.89 pct at 141. SKF said it has signed an agreement to acquire Taiwanese profile rail guide ABBA Linear Tech for an undisclosed sum.Profile rail guides are rolling bearings used for linear movements.The ABBA group employs around 400 people and has an annual turnover of some 250 mln skr.Among other shares heavily traded, Assa Abloy B was up 1.88 pct at 162.50, Handelsbanken A up 0.95 pct at 212, and Securitas B up 1.35 pct at 113.TF.TFN-EuropeStockholm@thomson.comhc/harCOPYRIGHTCopyright 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 AFX at a glance outlook 