Market down slightly after turbulent day

The Stockholm Stock Exchange closed down slightly on the week after a turbulent day of trading on Friday. TeliaSonera pleased investors with third quarter profits beating expectations, but engineering company Sandvik proved a disappointment.

The day started with rises, TeliaSonera shooting up after announcing a major dividend payout. The OMXS index fell back again soon afterwards, and the rest of the day was turbulent following disappointments from SEB and Sandvik.

At close of trading, the OMXS index was down 0.1 percent to 380.6.

The day’s major winners were Telia Sonera, which rose 5.6 percent to 61.50 kronor and Trelleborg, which rose 10.2 percent to 162.50 kronor on the back of increased profits.

Sandvik fell 5.1 percent to 126 kronor after its report turned out worse than the market had expected. Electrolux fell for the third day running, dropping 4.5 percent to 121.25 kronor. The company’s shares were down 13.4 percent since it released a worse-than-expected report on Monday.

Engineering company ABB was up 2.4 percent to 190 kronor. SEB was down 2.1 percent to 185 kronor after positives outweighed negatives in its interim report. Swedbank fell by 1.3 percent to 190 kronor. Handelsbanken rose by 0.7 percent to 206.50 kronor.

The major European bourses were in positive territory. In Frankfurt, the DAX was up 0.2 percent to 7,944.4. The FTSE 100 index in London was up 1.3 percent to 6,661.3. The CAC 40 in Paris was up 0.6 percent to 5,794.9.