Forestry Sector Stays in Spotlight
May 11, 2011
The Affarsvarlden General Index ended flat at 2013.5, and the stock market's general index was flat at 1987.29. The forestry sector rose 0.8%, largely lifted by continued strong gains for MoDo, which rose 6.5 kronor, or 3.4%, to 200 on hopes about higher pulp prices and some takeover speculation. On Wednesday, the share rose 2.1%. The less pulp-sensitive forestry group SCA presented six-month figures Thursday, showing a 43% drop in pretax profit to 1.673 billion kronor, following falling product prices and negative effects from a stronger Swedish krona. SCA fell 2 kronor to 143. Forestry group Stora rose 0.5 krona to 94 kronor and AssiDomaen rose 0.5 krona to 167.5 kronor. Pharmaceutical company Pharmacia & Upjohn fell 1 krona to 283 kronor. The company announced Thursday that it may list its Pharmacia Biosensor subsidiary.
