Morgonrapport: interest rate announcement in focus.

The continued pressure on the downside, the dominant Swedish trading on Wednesday, and storbolagsindexet OMXS30 fell -0.37% to 1541.27. The turnover on the stockholm stock exchange increased and amounted to 16.7 billion. After both a positive closure in the united states and development during the overnight trading in Asia, points leading futures at an opening in the major. Interest rate announcement from the Swedish Riksbank and the european central bank is in focus during the day, and await the as a potential trigger during today’s trading.

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Today’s analysis

A slightly shaky trade which fluctuated from plus to minus during the Wednesday closed the trade in a minor key for the third trading session in a row. Storbolagsindexet OMXS30 fell -0.37%, to 1541.27.

Thus, it means that the technical nyckelnivån at 1540 points were not entirely unexpected, as a fulcrum.

That turnover on the stockholm stock exchange continues to be significantly stronger during the nedgångsdagar, while we continue to hold a negative ‘ vapour dampens risk appetite.

Also, this morning lands a focus of 1540 points, but also 1550 points.

We can come to have a somewhat cautious trading ahead of the Riksbank’s interest rate announcement now at 09:30. The policy rate is expected to remain unchanged at -0.50%, not expected any major changes or surprises.

The major focus is on today’s agenda lands, however, on the interest rate announcement from the ECB followed by the press conference with central bank governor Mario Draghi.

Here is the expectations somewhat more divided when it comes to the policy rate, as well as the QE program. We may at the same time, this grunddragning in the forward-looking guidance, however, is expected no major surprises.

Leading futures point this morning at an opening around 1547 points, a slightly positive opening, in other words.

Unfortunately, we see a more negative tongång from the u.s. leading the S&P 500 in the semester, after the night’s trading in Asia. This tends to often be a preview on a somewhat more subdued opening.

Thus, it may mean that we get a slightly weaker opening than expected, although this is a short-term focus on the 1540 and 1550 points.

On Wednesday stepped OMXS30 during the just 1540 points, while turnover rose on the stockholm stock exchange. This is a negative pattern, which means that we continue to have the risk of further nedsida.

However, starting OMXS30 now approaching a short term oversold scenario, which means that a rebound is considered to be suitable in the short, yet smaller.

Technical resistance levels ahead of today’s börsöppning await at 1550, 1560, 1570, but especially to 1580 and 1600 points. Support levels await already in 1540, 1527, 1517, and 1500 points.

It is a sparse agenda when it comes to the reporting companies, only Enquest is of interest with the report, as the SAS leaving trafiksiffror from August.

On makrofronten it is, however, a greater focus on this day, when the Riksbank and the ECB leaving the interest rate announcement.

Also, the Nordea holding several press points during the day, in both Helsinki and London regarding the relocation of its headquarters to Finland, which was announced on Wednesday.

What hålltider and the company reports the next weeks you can read here.

Yesterday’s main börshändelser.
The finger falls on the säljrekar.

Both UBS and DI leaving on Wednesday säljrekommendation.

Fingerprint Cards fell initially over -6 per cent on Wednesday, after both UBS and Today’s Industry left the säljrekommendation.

Today’s industry recommend selling Fingerprint Cards, in an analysis published on Tuesday night and in Wednesday’s tidningsutgåva.

”The logic should take its toll when the company’s överlönsamhet normalized, in a notoriously competitive industry. The risk is that the entertainment value of the third will exceed the return to the owners”, revealed in the analysis.

UBS, which downgraded to sell from the previously neutral, left a guide price of 30 kronor, down from the previous 34 sek.

In the week stated that former director of sales Thomas Rex is back in the company’s management, now head of the division for smart cards. Rex holds 1 million shares, and is despite the earlier sale of 2.5 million shares, the largest shareholder in the management team.

Clas Ohlson pops after report.

Fell initially over -4 per cent on Wednesday morning.

On Wednesday reported Clas Ohlson an operating profit of sek 100 million during the first quarter of the split financial year.

According to a compilation as the SME Directly made of the analyst’s forecasts, low analysts ‘ average of 98.4 million.

In Wednesday’s rapportpresentation, it appeared from the company’s new ceo in a month, back to Lotta Lyrå, has started a strategic review of the company in order to find the best way forward.

When it came to total sales in August, this was however a big disappointment. Analysts had on average expected 3.7 percent, but came in at 1 percent. Despite the disappointment regarding the overall sales, it wasn’t as bitter as in July, when the company nonetheless fell sharply.

Lundin Mining at a 10-year high levels…

Mining company plans to accelerate the exploration of all the mines in 2018, as a result of improved market conditions.

Lundin Mining step initially over +1% on Wednesday.

In a press release on Tuesday lifted the company’s managing director until, to, as a result of improved market conditions, the company will accelerate the exploration at all the mines in 2018, and also advance at least two new kopparfokuserade greenfield projects.

The current week stepped mining company over the technical resistance level at 62 million, for the to note a new 10-year high.

After Tuesday’s rebound continues, however, to a balancing around 62 dollars.

The company has recently received repeated buy recommendation and uppjusterad price target to 70 kronor from Nordea.

Also Handelsbanken holds increase that recommendation, with a target price of 62 dollars. Eight Capital also opened recently, coverage of the company with a buy recommendation and a price target at 11:50 CAD.

Hålltider during the day

Company reports

  • Enquest

Ex-dividend

  • K2A (5:00 kr in the preference share quarterly), Lundin Mining (0:03 usd quarterly)

Macro statistics

  • The netherlands: CPI August at 6.30
  • Germany: industrial production July at 8.00
  • Swedish national debt office: central government payments August at 9.30 am
  • SCB: the insurance companies ‘ capital investments 1 kv at 9.30 am
  • SCB: småhusbarometern August at 9.30 am
  • EMU: GDP (def) 2 kv 11.00
  • United states: new job vacancies to unemployed, from weekly data at 14.30
  • USA: productivity (def) 2 kv at 14.30
  • United states: Bloomberg consumer confidence, from weekly data at 15: 45
  • USA: oil stocks (DOE), weekly statistics 17.00

Other

  • Pareto Securities is arranging hälsovårdsseminarium at 8.15
  • Riksbank: interest rate announcement and monetary policy report at 9.30 am
  • Riksbank: press conference by reason of the minimum bid rate at 11: 00 a.m.
  • SAS: trafiksiffror for August at 11.00
  • The ECB interest rate announcement at 13.45
  • The ECB press conference with Mario Draghi at 14.30
  • The Fed Loretta Mester speaks on the economic outlook and monetary policy at 18.15

All börshändelser and estimates for the week can be found here!

Latest börsnyheterna

Nordea announced, finally, its decision to move its headquarters to Finland, something that gave a onsdagssur exchange a fast transient boosted at the end of the trading day. Bankaktien became today’s superior winner in terms of sales, but the leader’s jersey in the OMXS30 was only worn for a short time.

Storbolagsindexet closed the day at minus 0.4 per cent and the level of 1.541. The turnover on the stockholm stock exchange landed at 16.7 billion dollars.

Nordea accounted for 1.8 billion of this, and rose by 0.4 per cent. The immediate kursreaktionen about the decision to move the headquarters were nettopositiv by 2.5 per cent, from the light minus clear plus, but glädjeruset came of itself.

The bank’s market capitalization increased by sek 1.6 billion, modest by comparison with the 1-1,1 billion, which the bank believes is the current value of what one saves in resolutionsavgifter, deposit guarantee schemes and other transitional rules.

The number of trades in Nordea shares amounting to more than 21,000, compared with an average of just under 6,000 trades per day over the ten preceding trading days.

The move, intended to be carried out on approximately one year, requires regulatory approvals. About ten minutes after Nordea’s press release about its decision, announced the financial supervisory authority that it will ”have a dialogue” with Nordea and ”analyse the consequences of a move”. The immediate positive kursreaktionen for the share price fell back after this announcement.

At the side of the Nordea and waiting for the bank’s decision, which was published just before the shutdown, marked the trading session by the continued geopolitical concerns in the shadow of north Korea, and the country’s possible plans to fire more missiles later in the week. Russian president Vladimir Putin called for a summit with south Korea’s counterpart to the call, at the same time that he condemned north korea’s actions.

Oil prices rose during the day as the atlantic hurricane Irma approached Florida. At the Swedish börsstängning, the price of a barrel of brent crude oil more than 54 dollars, which was an increase of nearly 2 percent for the day and the highest level since may of this year. Lundin Petroleum closed down in spite of this, minus a few%, and Enquest listed minus 0.5 per cent.

Fingerprint Cards became today’s OMXS30-jumbo with minus 6.8 per cent. Today’s Industry recommended – as well as later UBS – to sell the stock, and reported in addition to the former sales manager and now smart cards-chief Thomas Rex did just this earlier in the year. A member of the board sold on more recently the 24,000 shares, according to recent data, in finansinspektionens insider register.

On rapportfronten com Clas Ohlson’s results in somewhat stronger than expected during may-July. Augustiförsäljningen, however, was clearly weaker than expected, plus 1 on the waiting plus 3.7 per cent, and its shares dropped nearly 3 percent. The new ceo Lotta Lyrå stated that she has started a strategic review of the company.

ABB ended up as the winner of the day on the OMXS30 index, plus 0.6%, with the reversal from minus to plus during the afternoon. The company’s ceo, held an investor presentation at the robotfabriken in the u.s., Michigan, and introduced, inter alia, for ABB’s presence in its largest market, which is precisely the united states.

Little Mavshack finished at minus 19 per cent, after having been up more than plus 30 percent during the morning. The whole 94 per cent of the total number of shares traded.

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Recent trends (~there is a 06:40)

The OMXS30
EURO STOXX 50
Frankfurt DAX
The London FTSE 100
THE S&P 500
The DJIA
The Nasdaq Comp.
The NIKKEI 225
HANG SENG
EUR/USD
EUR/SEK
USD/SEK
WTI Semester
Brent Semester
1541.27
3433.8
12214.54
7354.13
2465.54
21807.64
6393.31
19389.35
27645.26
1.19
9.51
7.97
49.1
54.02
-0.37%
0.38%
0.75%
-0.25%
0.31%
0.25%
0.28%
0.16%
0.11%
0.03%
0.04%
-0.02%
-0.12%
-0.33%

 

Stock and Technical Analysis each day at 10.00 am

By: Michael Andersson for Tradingportalen/Agency Directly.
Questions and comments always welcome in the newsroom[at]tradingportalen.com

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