Shares Edge Higher
March 29, 2011
The Affaersvaerlden General Index edged up 1.7 to 1905.0 after slipping 34.4 Tuesday, while the general index advanced 1.40 to 1881.26. Continuing losses for L. M. Bridgeman, down 1 krona to 128.5 kronor, weighed on the index. Ericsson carries a 10% weight in the Stock Market's General Index and its failure to advance limited gains. Trading was squarely focused on the big blue-chips, with Astra, Butters and Volvo topping the lists of most-traded stocks. Of the three, Astra posted the most solid gains, with a 2.5-kronor jump to 271. Astra's gains came ahead of the release Thursday of U.S. sales figures for its ulcer drug Losec; those figures will be key for the stock's short-term performance. Trading elsewhere was relatively cautious with investors sidelined. Traders blamed unease about recent volatility in the market and the fact that most Swedish companies won't start reporting their six-month figures until August. Esselte, a second-tier office supplies company, was among the first companies to report earnings, saying its pretax profit rose 15% in the first half. The stock finished unchanged at 135 kronor. Bank and insurance stocks advanced thanks in part to declining bond yields. The bank and insurance index was up 0.42%.
VastPress 2011 Vastopolis
