Swedish stocks: Seen opening lower after U.S. stocks tumble
05/12/2018 07:42
** Swedish shares seen opening lower on Wednesday on the back of weak stock
markets in Asia, sharp falls in the U.S.
** Retailer Clas Ohlson CLASb.ST reported a drop in underlying operating
profit for fiscal Q2 and said it would close its store network in the UK and
Germany. urn:newsml:reuters.com:*:nWkr2fmtlK urn:newsml:reuters.com:*:nL8N1YA0QK
** Ventilation firm Systemair SYSR.ST reported a 31 percent jump in Q2
operating profit on the back of 9.1 percent organic sales growth.
** Preliminary net orders of heavy trucks (Class 8) in North America fell to
27,900 units in November, down 36 percent sequentially from October, and 15
percent lower from a year earlier. VOLVb.ST
** Morgan Stanley lifts its recommendation for mining gear maker Epiroc
EPIRa.ST to overweight from equal-weight, but cuts the price target to 90 SEK
from 94 SEK. Epiroc closed at 79.10 SEK on Tuesday.
** Morgan Stanley cuts its recommendation for lock maker Assa Abloy
ASSAb.ST to equal-weight from overweight, and lowers the price target to 188
SEK from 200 SEK. Assa Abloy closed at 169.30 SEK on Tuesday.
** Morgan Stanley cuts its recommendation for home appliance maker
Electrolux ELUXb.ST to underweight from equal-weight, and lowers the price
target to 210 SEK from 215 SEK. Electrolux closed at 208.50 SEK on Tuesday.
** Alfa Laval ALFA.ST has won an order worth 110 mln SEK to supply air
cooler systems to a gas processing plant in the U.S. urn:newsml:reuters.com:*:nFWN1Y90NY
IG pre-market trading Stockholm OMXS30 -1.0 pct
Stoxx Europe 50 future STXEc1 -0.9 pct
MSCI index Asia Pacific ex Japan .MIAPJ0000PUS -1.4 pct
S&P 500 close previous trading day .SPX -3.2 pct
For European stock market report: .EU
For global market roundup. MKTS/GLOB
(RM: johannes.hellstrom.thomsonreuters.com@reuters.net)