Axfood AB (AXFO) Plunges -0.06% on Oct 23

October 23, 2017 - By Marie Mckinney

Shares of Axfood AB (STO:AXFO) last traded at 154, representing a move of -0.06%, or -0.1 per share, on volume of 163,351 shares. After opening the trading day at 154.1, shares of Axfood AB traded in a close range. Axfood AB currently has a total float of 209.68M shares and on average sees 476,610 shares exchange hands each day. The stock now has a 52-week low of 131.2 and high of 155.4.

OMXS30: Attesting To Sweden’s Glory

Many European countries are acknowledged for their respective contributions to the global economy given their extensive dominance. One of these European prides includes Sweden, a truly influential nation especially among Nordic countries. The chances to get to its market are low, but Axfood AB made it.

Sweden boasts with countless growth opportunities for domestic and international investors alike, which is why it has a healthy trade and commerce landscape backed by a reasonable borrowing environment. Moreover, its compelling corporate governance also attracts more and more investors through time, and strengthens their confidence in the national economy. Axfood AB receives attention of new investors from across the world.

Nasdaq Stockholm

The Nasdaq Stockholm, which is a part of the Nasdaq Nordic, is the main stock exchange in Sweden that is based in Frihamnen, Stockholm. It had been established in 1863, adopting a floor trading system at the Stockholm Stock Exchange Building. On June 1, 1990, an electronic trading system had finally been introduced.

Presently, the Nasdaq Stockholm is owned by Nasdaq, Inc. along with other stock exchanges in Nordic countries including the Armenia Stock Exchange or Nasdaq OMX Armenia; Copenhagen Stock Exchange or Nasdaq Copenhagen; the Helsinki Stock Exchange or Nasdaq Helsinki; the Iceland Stock Exchange or Nasdaq Iceland; the Riga Stock Exchange or Nasdaq Baltic; and the Tallinn Stock Exchange or Nasdaq Baltic.

The regular trading on the Nasdaq Stockholm lasts for eight hours, beginning at 9:00 a.m. and ending at 5:00 p.m. Currently, it has a total market capitalization of roughly $1.30 trillion with more than 300 companies listed on the Nasdaq Stockholm. Inside this list is Axfood AB.

OMXS30

The OMXS30 is the benchmark Swedish index that weighs the 30 biggest companies listed on the Nasdaq Stockholm based on market capitalization.

The components are reviewed twice a year in order to make sure that the OMXS30 provides a meaningful representation of the Swedish equity market. Regular index rebalancing is a typical activity among indices that do not weigh all companies listed on their respective stock exchanges. Companies are regularly dropped from and added to these indices depending on several factors such as industry representation, liquidity, among others.

The base value of the OMXS30 is 125 points and the base date is September 1986. Numerous sectors comprise the OMXS30; and the top 3 largest sectors include Consumer Services, Financials, and Industrials.

The OMXS30 had reached its all-time low of 98.96 points in November 1987; and its all-time high of 1,719.93 points in April 2015. The remarkable decline in 1987 had been mainly driven by Black Monday, a dark day in the history of global economy that had started in Hong Kong. From there, the OMXS30 had managed to grow gradually as the Swedish economy recouped, leading to its all-time high record. Companies like Axfood AB received the benefits of investors attention after that.

There is no reason to doubt the rampant growth of the European economy with the powerful stability of countries such as Sweden. Many investors are considering entering the European equity market because of this. It goes without saying that investing on Nasdaq Stockholm stocks is one of the best ways to penetrate a booming economy and bet on its further growth.

More important recent Axfood AB (STO:AXFO) news were published by: Reuters.com which released: “BRIEF-Axfood and Norgesgruppen to acquire Eurocash Food AB” on January 19, 2017, also Globenewswire.com published article titled: “Klas Balkow new CEO of Axfood AB”, Globenewswire.com published: “The Reitan Group exploring options for its financial holdings in Axfood” on December 21, 2015. More interesting news about Axfood AB (STO:AXFO) was released by: Businesswire.com and their article: “Axfood: Dagab Acquires Saba’s Warehouse Operation in Helsingborg” with publication date: June 17, 2016.

Axfood AB is a Sweden-based company engaged in the food retail and wholesale trade in Sweden. The company has market cap of $32.32 billion. The Company’s retail business is conducted through three wholly owned chains: Willys, specializing in discount food retail; Hemkop, which is engaged in the sales of food retail products, and PrisXtra, which is a grocery chain serving the Stockholm market. It has a 22.12 P/E ratio. The Firm owns and operates over 200 retail stores.