Shares of Proact IT Group AB (STO:publ) last traded at 208, representing a move of -3.48%, or -7.5 per share, on volume of 167,105 shares. After opening the trading day at 209, shares of Proact IT Group AB traded in a close range. Proact IT Group AB currently has a total float of 9.15 million shares and on average sees 14,258 shares exchange hands each day. The stock now has a 52-week low of 140.6 and high of 240.
The Swedish Equity Market
Sweden is known around the world for a lot of global brands. However, there is so much beyond those that Sweden is rarely linked to or acknowledged for.
What most people don’t know is that Sweden is also home to one of the best economies in all of Europe. With good corporate governance and a healthy trade and commerce environment, the Swedish economy is immensely growing to become more and more influential regionally and globally. It influence spread on the companies at the market like Proact IT Group AB. Through time, it has been established that Sweden is one of the most valuable contributors to the growth of the European economy.
The Stock Exchange
In Sweden, the Stockholm Stock Exchange or Nasdaq Stockholm is the main stock exchange situated in Frihamnen, Stockholm. Like the other stock exchanges in Nordic nations such as Norway and Iceland, it is owned and operated by Nasdaq, Inc. since 2008. These Nasdaq Nordic stock exchanges include the Tallinn Stock Exchange or Nasdaq Baltic; the Riga Stock Exchange or Nasdaq Baltic; the Iceland Stock Exchange or Nasdaq Iceland; the Helsinki Stock Exchange or Nasdaq Helsinki; the Copenhagen Stock Exchange or Nasdaq Copenhagen; and the Armenia Stock Exchange or Nasdaq OMX Armenia.
The Nasdaq Stockholm has been around since 1863. Until May 1990, it had operated at the Stockholm Stock Exchange Building using a floor trading system. It is in June 1990 that electronic trading system had arrived in the country. It brings improvements with each new year to the work of the market, helping Proact IT Group AB to stay there.
Regular trading on the Nasdaq Stockholm opens at 9:00 a.m. and closes at 5:00 p.m. Today, more than 300 stocks are listed on the Nasdaq Stockholm. Its total market valuation is currently at $1.26 trillion.
The Index
The benchmark index in Sweden is the OMX Stockholm 30 (OMXS30), which is a market-capitalization-weighted index that tracks the top 30 stocks listed on the Nasdaq Stockholm. It uses the base value of 125 points— the base date being September 1986.
The OMXS30 is semi-annually rebalanced in order to ensure proper and accurate indication of the Swedish economy. Every rebalancing period, old stocks can be dropped from it and new ones can be added— largely depending on different factors and overall performance in the equity market.
The three largest sectors in the OMXS30 include Industrials, Financials, and Consumer Services.
The OMXS30 had posted its all-time low of 98.96 points, which is widely attributed to Black Monday, in November 1987. During the last few months of the year 1987, equity markets around the world had tumbled, which is an event now commonly dubbed as Black Monday. The meltdown had begun in Hong Kong and quickly spread like a wildfire worldwide.
Nonetheless, the OMXS30 had eventually banked gains, posting its all-time high of 1,719.93 in April 2015. Proact IT Group AB also received the increase.
It is a general truth that the best way to bet on a country’s growth potentials and long-term prospects is to penetrate its equity market. Consequently, the best way to bank on the growth of the Swedish economy and to maximize the opportunities in the nation is to invest on Nasdaq Stockholm stocks.
More notable recent Proact IT Group AB (STO:publ) news were published by: Qz.com which released: “Theresa May pledges military support for Nigeria against Boko Haram – Quartz” on August 29, 2018, also Businesswire.com with their article: “Proact IT Group: Annual Report 2015 – Business Wire” published on April 12, 2016, Bloomberg.com published: “Trade Pact Gives Extra Boost to World’s Best-Performing Currency – Bloomberg” on October 01, 2018. More interesting news about Proact IT Group AB (STO:publ) were released by: Business.Financialpost.com and their article: “Pacific rim trade pact goes ahead after Australia ratifies – Financial Post” published on October 31, 2018 as well as Cbc.ca‘s news article titled: “Ottawa makes plans to retaliate if U.S. follows through on auto tariff threat – CBC.ca” with publication date: June 11, 2018.
Proact IT Group AB , together with its subsidiaries, operates as an independent integrator in the fields of data storage and cloud solutions in Sweden, the United Kingdom, and internationally. The company has market cap of $1.90 billion. It operates through Nordics, UK, East, West, and Proact Finance divisions. It has a 15 P/E ratio. The firm offers data storage solutions, such as primary storage, backup and recovery, archiving, business continuity, and disaster recovery solutions; and networking solutions, including vulnerability assessments, network health checks, consultancy, design and deployment, data center and virtualization network, and collaboration and communication network solutions.
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