ABB Ltd (ABB) Soared 0.83% on Dec 7

December 7, 2017 - By Marguerite Chambers

Shares of ABB Ltd (STO:ABB) last traded at 217.5, representing a move of 0.83%, or 1.8 per share, on volume of 813,049 shares. After opening the trading day at 215.7, shares of ABB Ltd traded in a close range. ABB Ltd currently has a total float of 2.13B shares and on average sees 1.45 million shares exchange hands each day. The stock now has a 52-week low of 181.1 and high of 222.9.

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. ABB Ltd 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. ABB Ltd 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. ABB Ltd 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 ABB Ltd 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 recent ABB Ltd (STO:ABB) news were published by: Seekingalpha.com which released: “ABB Seeing Key Markets Starting To Turn” on November 30, 2017. Also Businesswire.com published the news titled: “Global Building Management System Market 2017-2023 – Key Players are Abb Ltd …” on November 30, 2017. Nasdaq.com‘s news article titled: “ABB & Kawasaki to Partner on Collaborative Robot Automation” with publication date: November 28, 2017 was also an interesting one.

ABB Ltd manufactures and sells electrification, robotics and motion, power grid, and industrial automation products for utilities, transportation, infrastructure, and industrial clients worldwide. The company has market cap of $459.13 billion. The firm provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, low- and medium-voltage switchgears, switches, DIN rail components, and installation materials for building, data center, rail, wind and solar, food and beverage, marine, and gas and oil industries. It has a 209.54 P/E ratio. It also offers motors, generators, variable speed drives, robots and robotics, solar inverters, wind converters, rectifiers, and excitation systems, as well as power quality and protection solutions, electric vehicle fast charging infrastructure solutions, and components and subsystems for railways, and related services for discrete automation, process industries, transportation, and utilities.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: