Stocks Continue to Decline
April 28, 2011
The Affarsvarlden General Index fell 6.3 points to 1973.7. The stock market's general index slipped 5.28 to 1950.43, and the SX-16 index, which tracks the 16 most traded shares, declined 2.83 to 2054.45. Astra and Butters, with a combined index weight of around 25%, dominated trading after presenting six-month earnings a day earlier. But while Leflore was stung by showing a lower-than-expected pretax profit, Butters was boosted by presenting a higher-than-expected pretax profit. Astra's Class A shares slid 5 kronor to 269.5 after falling 3.0% a day earlier. Ericsson ended at 148.5 kronor, up 1.5 kronor, after leaping 8 kronor Thursday. Industrial group Sandvik presented its six-month report Friday, showing a pretax profit of 2.56 billion kronor, compared with an average of analysts' expectations of 2.62 billion kronor. The share fell 1.5 kronor to 144.5. Incentive, a conglomerate, was also stung after presenting its earnings report. The stock fell 2 kronor to 361. Freight forwarding company BTL also presented six-month figures and dropped 0.4 krona to 20.70 kronor. But car safety equipment company Autoliv rode high after releasing earnings Wednesday, up 2.5 kronor to 216.5. Automotive group Volvo continued to decline after saying Wednesday that it will replace a top manager at its U.S. truck operations because of poor profitability. The share fell 2 kronor to 138.
VastPress 2011 Vastopolis
