Morgonrapport: Veckoavslut over 1550 points?!?



After an initially negative movement, we got a conclusion in the positive territory on the stockholm stock exchange. OMXS30 index rose +0.76% to 1553.02, and turnover on the stockholm stock exchange amounted to sek 16 billion. Despite the fact that there were no major surprises on räntebeskeden, departed the united states through a closure in the weak minus. Leading futures pointing this morning on a slightly positive opening…

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Today’s analysis

After an initially trading negative during the Thursday morning, managed OMXS30 step up over the zero in the afternoon, and we had a closing near dagshögsta at 1553 points.

The technical nyckelnivån at 1550 points were still hard to beat, and acted as the fulcrum for more than half the day.

As this meant the support at 1540 points to the decline was limited. Despite a positive ending, were the greater part of the day’s volume in the 1546-1550 points, which was just below zero.

This is considered to be obviously be negative, and will be extremely interesting to see if we will get a closure over 1550 points veckoavslut, or return to below this level.

Leading futures pointing this morning on a slightly positive introduction about 1554 points, possibly we must, nonetheless, a subdued introduction on Friday, when the u.s. leading terminenen the S&P 500 is trading at slightly less.

We have no major events, which should create volatility, or sharp moves on the makroagendan, as company reports.

Lately, it has been clear sammanvägningar around the movements in the dollar and the euro, and börssentiment. The u.s. dollar is trading this morning against the Swedish krona for the first time during the 7.90 ago 2015.

A weaker dollar increases the competition and makes american companies more attractive. For those of you who are reading us since a good while back, we have previously written about Donald Trump already stated that he wants to see a weaker dollar.

It also means that the sentiment in the world’s stock markets will be subdued in tune with the possible weakness from the united states.

The week as a whole still looks to be able to end up with the advantage from the sellers, and we would need something dramatic to turn the week into a positive.

With the previous two weeks on the plus, this creates room for a break, but at the same time, we have in the week now had three trading days in a row with rising sales force, which on Thursday got the knock back we highlighted as a possibility.

However, we have not received any days with significant sales or köpstyrka.

We traded in the big move is still within the range we previously highlighted about 1517 to 1550 then 1560 points. We have not challenged the 1560 points seriously, and for the moment it looks not to be the current week either.

We only get a small movement to the north today, we will short-term step up into an overbought scenario, since we are on the Thursday, never managed to get down in a short-term oversold territory.

This means that the 1560 in addition to their significance on the basis of technical resistance, even then will get pressure on the basis of a short-term overbought territory.

Can possibly a recovery after Thursday’s decline in the Nordea bank, get the bank to be in a better mood on Friday and lift the sentiment at the end. Nordea fell on news that major banks have move its headquarters to Finland.

The probability is, however, for the moment, the more that we will challenge the 1550 points already at the beginning, and maybe even stepping in to carry out a large part of today’s trading in negative territory.

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

Today’s makroagenda we find, among other French and british industrial production, German trade and current account balances, as well as at home hushållskonsumtion and production industry in the space of a couple of hours at the börsöppning.

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

Yesterday’s main börshändelser.
The bottom reached in Hennes & Mauritz?!?

Now back over 200 bucks…

Clear pressure from the sellers have dominated In H&M’s shares, which since the beginning of september pushed the short trade below 200 sek.

The majority of the reductions to the recommendations and riktkurser has been the negative fuel during the days, with Santander at 213 sek, HSBC 180 sek, Barclays at 190 kr, JP Morgan 185 kr, Société Générale, at 167 sek, Jefferies in 210 b.c.

In the shadow of the negative recommendations had fallen in, it appeared on Thursday that DNB Markets raises to buy from the previous keep, and raises at the same time riktkursen from 242 to 225 kronor.

Again lifts the analyst the concern, that the sales will push the company’s third quarter. Sales figures will on 15 September, and the quarterly report falls into the 28 September.

Volvo on the way to new heights?!?

Traded just below an all-time high…

Volvo step initially, +1.70% on Thursday, after it was revealed that the company’s manufacturing of heavy trucks in the north american market remained strong in August. According to ACT’s preliminary figures, order intake was when it comes to heavy-duty trucks in north America 21.200 vehicles in August. The order intake represented an increase of 13 per cent compared with July, and 49 per cent compared with the same month of last year.

On 1 september, it was revealed that Volvo’s board of directors in its annual review decided to introduce new financial targets in the group, in its part to increase the profitability.

The new objectives which came into force as early as 31 August, meant that the group’s operating margin ”shall exceed 10% measured over a business cycle”.

Earlier in september, Danske Bank raised riktkursen to 198 sek, at the same time as the purchase was repeated. Nevertheless, the raised DNB Markets to buy from in the past the keep, and adjusted up riktkursen to 155 from a previous 145 sek.

Qliro make new year high after uppjusterad price target from SEB.

Step initially over +8.0 per cent on Thursday morning.

Qliro rushed early on Thursday morning, after SEB raised riktkursen to 25.50 sek, from the previous sek 18. At the same time repeated the major banks have purchase.

In the analysis by SEB, it was demonstrated that the increase is “based on the revisions In the estimates”. Försäljningsestimaten for the years 2017-2019 been adjusted upwards by 3-4%, yet the estimates for the margins.

Onlinekonsumentbanken QFS described at the same time by the SEB as ”the hidden jewel of the Qliro”, whereupon the major banks have think of a ‘doubling’ of the låneboken for QFS to 2019.

”Qliro continues to broaden its range of financial services to consumers. Personal loans is a supplement to Qliros main services such as payments, invoice and installment. We have built a digital service with low administrative costs in order to be able to offer loans at attractive conditions,” said Marcus Lindqvist, ceo of Qliro in connection with the launch of privatlånerbjudandet.

Hålltider during the day

Company reports

  • Ica to publish monthly sales in Sweden for August at 8.45

Macro statistics

  • Japan: current account balance July at 1.50
  • Japan: GDP (def) 2nd qtr at 1.50
  • The Swedish Trade Style: Stilindex at 6.00
  • Germany: trade, current account, July, at 8.00
  • France: industrial production July at 8.45
  • SCB: hushållskonsumtion July at 9.30 am
  • SCB: production business July at 9.30 am
  • Uk: industrial production July at 10: 30 a.m.
  • Uk: NIESR GDP estimates of August at 14.00
  • United states: wholesale stock (def) of July at 16: 00
  • China: trade balance August

Other

  • The Fed: William Dudley speaks on U.S. economic outlook, monetary policy at 1.00
  • Eniro: extended period in utbyteserbjudande terminated, modified date

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

Latest börsnyheterna

The stockholm stock exchange started vankelmodigt but recovered gradually and closed in the plus on Thursday. Heavy pieces like H&M, Volvo, Ericsson and Astra Zeneca dominated the news and contributed to the rise at the same time as Nordea backed off.

Storbolagsindexet OMXS30 index closed 0.8 per cent higher to 1.553. The turnover on the stockholm stock exchange low of sek 16 billion.

On Thursday, invited on expected interest rate announcement from both the Riksbank and the ECB. Both are still with their interest rates and invited nor on any other major news, even if ECB president Mario Draghi said that ”most” decisions concerning the bank’s future asset purchases should take in October. The euro strengthened, but only temporarily, when Draghi spoke during this afternoon’s press conference.

At home backed Nordea 1.4 per cent when the market melted and counted at the onsdagseftermiddagens notice to the legal domicile moved to Finland during the next years. Then the news was broadcast, the share price from just over sek 104 to 103,30 dollars. The other three major banks were noted for the more modest movements.

H&M shares had a good day and took once again over the 200-kronorstrecket. Fire support came from Norway, where the DNB raised its recommendation to buy. The Norwegian bank going against current understanding, and is optimistic for the klädbolagets margins next year.

”We expect further pressure on the gross margin in the short term, but the weakening of the dollar should provide support to the prospects for 2018, and we expect that a positive effect will be visible as from the first half of the year (2018),” wrote the DNB.

Volvo rose 1.7 per cent since the order intake for heavy trucks in north America provisionally amounted to 21.200 units in August.

”The order intake in August gives support to our view that 2017 will represent a stable year,” writes RBC Capital Markets in a comment.

Astra Zeneca rose 4.1 per cent after several news, including the canadian bank BMO initiated coverage of the share by putting the first recommendation to ”outperform”.

On the theme: Alfa Laval has got a height recommendation by Credit Suisse to neutral from the previous ”underperform”. Alfa advanced 2.5 per cent.

According to SvD Näringsliv Ericsson can be cut down by around 14,000 employees in Europe and Latin america, as part of the ceo Börje ekholm’s savings plan. Its shares rose 1.1 per cent.

Qliro increased 9.1 percent to 19,10 kroner after SEB raised its price target for the shares from 18 to 25:sek 50. SEB has raised its forecasts for the Kinnevikdelägda the e-commerce company and now believe that the operating profit during the next year can amount to nearly 100 million.

The oil company Enquest, whose balance sheet is perceived as weak by some analysts, reported and reiterated its production forecast for the full year. The company’s ceo Amjad Besisu can think of to sell 20 per cent of the company’s oil field Kraken, he stated in an interview with Bloomberg News.

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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
1553.02
3447.66
12296.63
7396.98
2465.1
21784.78
6397.87
19307.99
27689.84
1.21
9.53
7.9
49.22
54.72
0.76%
0.40%
0.67%
0.58%
-0.02%
-0.10%
0.07%
-0.46%
0.61%
0.41%
0.10%
-0.30%
0.26%
0.42%

 

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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