Q2 reports put downward pressure on the Stockholm Stock Exchange

Nordic betting operator, Betsson was one of few winners on the market on Thursday with a report that met expectations and a share that closed 13.5% up. Also ABB met expectations and the share rose 2%. Besides this two, Thursday’s reports mostly presented a list of disappointments, writes Dagens IndustriSvD reports that Vattenfall has recognised write-downs of a total of SEK 30 billion in the second quarter of this year, mainly relating to its fossil fuel assets. In a press release Vattenfall writes that most of the write-downs can be attributed to their German lignite operations and would have been even larger if the operations had not been sold to the Czech energy group EHP. The second quarter report further shows that state-owned Vattenfall will make a net loss of SEK 28.6 billion, almost as large as in the same period last year.

Also SvD Näringsliv notes that it has been a bad week for most of Sweden’s major businesses. Besides Vattenfall’s write-downs there is the fact of Telia’s troublesome investments in Eurasia and Nordea’s links to the Panama Papers and the bank’s need for capitalisation amounting to SEK 50-80 billion. Investor and Industrivärden, which together control a big portion of Ericsson did not have much to be joyous about either as the telecoms company posted Q2 sales that missed estimates.