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Gaming companies surged on report-heavy stock exchange

The Stockholm Stock Exchange fluctuated up and down on the season's most report-filled trading day. Upwards pulled the gaming company Evolution, while the major banks weighed down.

» Updated: 24 October 2024, 17:40

» Published: 24 October 2024

Gaming companies surged on report-heavy stock exchange
Photo: Anders Wiklund/TT

Thursday was the climax of the report flood from the listed companies' third quarter – and the reactions on the stock exchange were mixed. The broad OMXS index managed to both rise and fall before closing at minus 0.1 percent.

Among the winners, one found Evolution, whose share soared upwards by almost 15 percent.

The hygiene and health company Essity – one of the year's winners among the most traded shares on the Stockholm Stock Exchange – reported declining sales but a profit in line with expectations. The share fell by 0.8 percent.

The index was also weighed down by the major bank SEB, which reported an unexpectedly weak interest income – what the bank earns on the difference between lending and deposit rates. The share fell by 5.5 percent and dragged the other major banks down after Wednesday's bank rally.

The food company Axfood was another report loser, with a price drop of 11.5 percent.

Teleoperator Telia, on the other hand, rose by 1.7 percent after its quarterly report.

The forestry company Billerud fell back after statements about weak development and price pressure in the outlook in the report for the third quarter. The share fell by 9.4 percent.

Alfa Laval fared better, up 0.8 percent for the industrial company – despite the company flagging declining demand in its outlook.

The preliminary purchasing managers' index for October from the eurozone showed that it is putting the brakes on in the region right now, although it does not look quite as bad as feared in the German economy. And the major European stock exchanges in Frankfurt, London, and Paris all closed on a plus on Thursday.

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By TTThis article has been altered and translated by Sweden Herald

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