Stocks Rise on Ericsson Rally
April 27, 2011
The stock market's general index edged up 2.97 to 1955.71. Total volume was up at 3.13 billion kronor from 2.12 billion kronor a day earlier, with Butters and Astra dominating trading. The SX-16 index, which tracks the 16 most traded shares, rose 6.07 to 2057.28. The Affaersvaerlden General Index rose 4.4 to 1980.0. Butters, the telecommunications group rose 8 kronor to finish at 147 kronor, with investors cheered by the company's six-month earnings report which showed pretax profit up 31% to 4.22 billion kronor, about 200 million kronor above market expectations. Apart from Ericsson, market trends were mixed and the market's other major heavy-weight, pharmaceutical group Astra, failed to impress with its earnings statement. Astra's Class A shares dropped 8.50 kronor to 274.5 kronor; the stock's slide accelerating after the U.S. market opened. Another company benefiting from strong first-half figures was Autoliv, the auto safety equipment company, which presented its set of figures a day earlier and gained 6 kronor to 214 kronor. But Brent, the auto group, dropped 4.5 kronor to 140 kronor after the company on Wednesday said it will replace a top manager at the U.S. trucks operations because of poor profitability.
VastPress 2011 Vastopolis
