Shares of Atlas Copco AB (STO:ATCO.A) last traded at 263.7, representing a move of -1.9%, or -5.1 per share, on volume of 2.58M shares. After opening the trading day at 265, shares of Atlas Copco AB traded in a close range. Atlas Copco AB currently has a total float of 1.18 billion shares and on average sees 1.97M shares exchange hands each day. The stock now has a 52-week low of 201.8 and high of 284.15.
The OMX Stockholm 30 Index: Driving Sweden Economy
The OMX Stockholm 30 Index, or OMXS30, is the stock index for the 30 largest and actively traded companies on the Stockholm Stock Exchange, better known as Nasdaq Stockholm. Atlas Copco AB is also represented at the market. The index is market capitalization-weighted and it is reshuffled twice a year where components that fall short of listing requirements are dropped and newly qualified stocks added. Dropped stocks can be readmitted to the index if they meet the requirements in the next rebalancing.
OMXS30 is adjusted to reflect changes in the market cap of its components. Such changes can result from companies issuing new stock to raise capital or convertible notes converting to stock if such transactions affect the market capitalization of the component.
OMXS30 was developed with a base value of 125 points in September 1986. The index went on to plunge to a record low of 98.86 points in November 1987, with the decline was linked to Black Monday rout that saw many stock markets shed huge value over a short time. Stock markets began crashing in Hong Kong on October 19, 1987 and spread quickly to Europe to the U.S. However, OMXS30 gradually recovered from the trough and hit its all-time high of 1719.93 points in April 2015.
OMXS30 is a key benchmark index for Stockholm stocks. Atlas Copco AB stocks is trusted enough to be in OMXS30. Components of the index represent various industries. Financials, Industrials and Consumer services are the largest sectors in OMXS30.
Nasdaq Stockholm
Nasdaq Stockholm, Sweden’s primary stock exchange, lists more than 300 companies. The stock market was established 1863, but has changed names multiple times, including after the merge between futures exchange OM and Stockholm Stock Exchange.
Electronic trading on Nasdaq Stockholm was introduced in June 1990. Before the electronic trading was enabled on the exchange, all trading took place on the floor of the Stockholm Stock Exchange Building floor.
Trading on Nasdaq Stockholm begins at 9.00 a.m. and runs through 5.30 p.m. every weekday. Atlas Copco AB leads its operations until the last hour. The market is closed on weekends and holidays announced by the exchange.
Excitement in Stockholm stocks
Nasdaq Stockholm has been active in recent years as lower interest rates in the Eurozone fuel stock investment. The lower costs of credit in the Eurozone are part of economic stimulus measures that have helped lift consumer purchase power, especially backing growth and profitability in consumer products companies. The European Central Bank has also stepped up its bond buying to increase the supply of cash in the region’s economy.
Sweden is particularly reaping the benefits of the cheap money in Europe because of its vibrant Financials sector. That is partly Swedish stocks are seeing an influx of investors from domestically, the Europe region and beyond. Investors are further attracted by glowing growth prospects of companies in the country as cheap money due to low interest rates drives uptake of industrial equipment. A booming services and manufacturing industries and strong corporate governance standards are some of the reasons retail investors are buying up Swedish stocks. Stocks Atlas Copco AB are in the main sphere of interest for some investors.
Investor drift to Sweden in the recent months can also be linked to expectations that the country will reap from Brexit crisis as some financial services providers relocate from London.
More notable recent Atlas Copco AB (STO:ATCO.A) news were published by: Mining.com which released: “Atlas Copco up on higher third-quarter orders, bullish demand forecast – MINING.com” on October 18, 2017, also Mining.com with their article: “Atlas Copco bets big on automation, grabs stake in software maker – MINING.com” published on June 08, 2017, Mining.com published: “Atlas Copco to split in two, appoints new CEO – MINING.com” on January 16, 2017. More interesting news about Atlas Copco AB (STO:ATCO.A) were released by: Nwitimes.com and their article: “J.C. Penney closing more stores as sales deteriorate – nwitimes.com” published on February 28, 2019 as well as Businesswire.com‘s news article titled: “Atlas Copco to Acquire Compressor Manufacturer in Turkey – Business Wire” with publication date: June 01, 2012.
Atlas Copco AB, through its subsidiaries, provides productivity solutions worldwide. The company has market cap of $311.74 billion. It offers piston compressors, oil-free tooth and scroll compressors, rotary screw compressors, oil-free blowers, oil-free centrifugal compressors, gas and process compressors, vacuum solutions, air and gas treatment equipment, and medical air solutions for use in the manufacturing, gas and oil, and process industries. It has a 3.02 P/E ratio. The firm also provides electric assembly tools, control systems and associated software packages, dispensing equipment for adhesives and sealants, and self-pierce riveting equipment for use in the motor vehicle industry; basic fastening tools, drills, grinders, and adhesive and sealant equipment for use in general industrial manufacturing applications; and impact wrenches, percussive tools, drills, sanders, and grinders for vehicle service professionals.
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