Avanza rises after Kepler lifts it to 'hold' on stronger US trading, earnings outlook

Avanza Bank Holding AB

06/10/2025 08:27

** Shares in Avanza Bank AVANZ.ST rise around 4% after Kepler Cheuvreux lifts its rating on the Swedish financial group to "hold" from "reduce", citing stronger U.S. trading activity and a brighter earnings outlook ahead of Q3 results

** Kepler expects Q3 earnings per share to rise 16% from the previous quarter, driven by higher income from foreign equity trading and seasonally lower costs

** It adds foreign trading now makes up 28% of total turnover, up from 20% before the U.S. election, boosting brokerage and foreign exchange revenues

** "After the weak share price development, we believe that Avanza has now grown into its valuation, despite rising stock market valuations in general," the broker says

** Avanza shares are among top movers on the pan-European STOXX 600 .STOXX index; if gains hold, they will see their best day since July

** Peer Nordnet SAVE.ST shares are also up 2.9% in early trading

(Reporting by Jesus Calero)

((jesus.calero@thomsonreuters.com))