Evolution fell on the Stockholm Stock Exchange ahead of the Christmas holidays OMXS30 index fell 0.2 percent
At the close, the OMXS30 index was down 0.19 percent to 2,469.87. Shares worth SEK 14.3 billion were traded on the Stockholm Stock Exchange.
The best performance among the stock exchange's major industrial sectors was health care with an increase of 0.83 percent. At the other end of the scale, consumer durables were at the bottom at minus 2.80 percent.
Among the leading stocks, which are included in the OMXS30 index, SBB B rose 5.8 percent while Saab was up 3.9 percent. Evolution was the worst performer, down 10.1 percent, while H&M was down 1.3 percent.
Live casino developer Evolution announced that the UK Gambling Commission (UKGC) has launched an investigation into its holding company in Malta after identifying gambling in the UK by operators without a UKGC license. According to Evolution, there could be several outcomes from the review, including no action required to being financially sanctioned or having its license revoked. The UK market accounts for about three percent of Evolution's revenue. The share fell by 10.1 percent.
Real estate company SBB announced a number of news items, including that the company itself has assessed that the risks have been significantly reduced ahead of the litigation in the UK after a majority of bondholders abandoned the dispute with the outcome of the bond exchange offer. The credit rating agency S&P Global upgraded SBB's credit rating to CC following the exchange offer. The company also announced the dissolution of two more joint ventures with properties worth a total of SEK 2.2 billion and the sale of building rights for SEK 194 million. The B-share rose 5.8 percent.
Defense company Saab received an order from the Swedish Defense Materiel Administration worth SEK 800 million. The company is also expected to benefit from rising defense spending in many countries. NATO has for some time discussed raising the spending requirement from 2 to 3 percent of GDP. According to the Financial Times, US President-elect Donald Trump has advocated an increase to 5 percent. The stock rose 3.9%.
The Swedish Inspectorate for Strategic Products (ISP) has concluded its review of Norwegian Xplora Technologies' takeover bid for Doro. ISP approval was one of the conditions for the deal to go ahead. ISP has now decided to close its review and reject the notification as Doro is not considered to conduct activities worthy of protection under the Foreign Direct Investment Review Act. The bidder has shortened the notification period in the offer to January 13. The share rose 2.7 percent to SEK 33.70. The offer is SEK 34 per share.
The CEO and principal owner of the brand company New Wave, Torsten Jansson, sold shares for SEK 8.55 million. Jansson stated that he sold the shares to the newly recruited CFO Anna Gullmarstrand. She will take over in February. The share fell 0.3 percent.
Technology company Dynavox climbed 10.3 percent after a buy recommendation from EFN Finansmagasinet.
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