Stockholm shares slightly higher early on bargain-hunting |
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Wed, 17 Jan 2007 10:12
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STOCKHOLM (AFX) - Shares were slightly higher in early trade on bargain-hunting ahead of the upcoming Q4 reporting season, with Ericsson outperforming supported by Sony Ericsson's strong fourth quarter results, dealers said.At 9.50 am, the OMX Stockholm index was up 0.51 pct at 384.61, and the OMX Stockholm 30 was up 0.53 pct at 1,176.82. Turnover was 5.82 bln skr.Ericsson B was up 1.02 pct at 29.65, and Nokia up 0.36 pct at 139.30.Sony Ericsson beat market expectations in terms of sales, profits, units shipped, and average selling prices.'An improving mix has driven margins higher and helped to offset industry weakness in average selling prices,' one dealer said.He said the numbers add 2 pct to Ericsson's bottom line.'The read across for Ericsson is clearly positive but is neutral for Nokia.Among the telecom operators, TeliaSonera was up 0.44 pct at 57.50 and Tele2 B up 1.28 pct at 98.75.The engineering bluechips posted strong gains. Sandvik was up 2 pct at 102, Alfa Laval up 0.81 pct at 309.50, Atlas Copco A up 0.90 pct at 223, and SKF B up 0.99 pct at 127.50.'People are expecting a set of bumper Q4 results from these firms,' a dealer said.Among other shares heavily traded, Swedbank A was up 0.38 pct at 265, Skanska B up 1.39 pct at 145.50, and Electrolux B up 0.84 pct at 120.50.TF.TFN-EuropeStockholm@thomson.comhc/ambCOPYRIGHTCopyright 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 AFX at a glance outlook 