Swedish stocks: seen opening higher, H&M posts surprise Q4 pretax profit fall

BHG AB

31/01/2019 07:41

** Swedish shares seen opening higher on Thursday, but slightly
underperforming European stocks
    ** Asia stocks rose to a four-month high after the Federal Reserve pledged
to be patient with further interest rate hikes, signalling a potential end to
its tightening cycle amid signs of slowing global growth
    ** Swedish fashion retailer H&M  HMb.ST  reported an unexpected fall in
fiscal fourth-quarter pretax profit, hit by lingering costs to upgrade its
logistics systems, but kept its annual dividend payout unchanged  urn:newsml:reuters.com:*:nFWN1ZU1CX
    ** Hygiene products group Essity  ESSITYb.ST  reported quarterly core
earnings above market forecasts on Thursday as higher selling prices, sales
volumes and costs savings gave it a bigger than expected boost  urn:newsml:reuters.com:*:nFWN1ZU1AC
    ** CFRA raises target price (TP) on Volvo AB  VOLVb.ST  to SEK 145 from SEK
135 vs the truckmaker's Wednesday close of SEK 126.40. According to news agency
Direkt, SEB Equities also raises its TP to SEK 155 from SEK 140 and
recommendation to "buy" from "hold"
    ** Jefferies cuts rating on SKF  SKFb.ST , the world's biggest maker of
industrial bearings, to "underperform" from "hold" and TP to SEK 120 from SEK
145 vs Wednesday's close of SEK 154.80
    ** Goldman Sachs lowers TP for steelmaker SSAB's A shares  SSABa.ST  to SEK
43 from SEK 57 vs Wednesday's close of SEK 35.20, according to Direkt
    ** Nordea Markets raises its recommendation for Nordic construction company
Peab  PEABb.ST  to "hold" from "sell" and lowers TP on peer NCC  NCCb.ST  to SEK
175 from SEK 200 vs Wednesday's close of SEK 137.50, according to Direkt
    ** Pareto Securities raises TP for technology group Getinge  GETIb.ST  to
SEK 130 from SEK 114 vs Wednesday's close of SEK 99.10, reports Direkt
    ** Handelsbanken Capital Markets raises its recommendation for maker of
security mesh doors Troax  TROAX.ST  to "buy" from "add", but cuts TP to SEK 320
from SEK 340 vs Wednesday's close of SEK 264
    ** Bygghemma Group First  BHGF.ST  Q4 adjusted gross profit up by 23.1 pct
 urn:newsml:reuters.com:*:nFWN1ZU1AE
    ** Granges  GRANG.ST  Q4 adjusted operating profit up by 6.8 pct
 urn:newsml:reuters.com:*:nFWN1ZU15D
    ** AcadeMedia Q2 EBIT falls to SEK 128 million  urn:newsml:reuters.com:*:nFWN1ZU1AP
        
 IG pre-market trading Stockholm OMXS30                     +0.3 pct
 Stoxx Europe 50 future                   STXEc1            +0.6 pct 
 MSCI index Asia Pacific ex Japan         .MIAPJ0000PUS     +0.7 pct 
 S&P 500 close previous trading day       .SPX              +1.6 pct 
 
    For European stock market report:  .EU 
    For global market roundup.  MKTS/GLOB 
    

 (RM: esha.vaish.thomsonreuters.com@reuters.net)