×

Europe Top News and Analysis Sweden

  • Sweden's central bank raised its key repo interest rate by 25 basis points on Wednesday as expected, taking interest rates to 3.50%, their highest level since March 2003.

  • Swedish fashion giant Hennes & Mauritz second-quarter profits and May sales fell short of expectations on Wednesday, despite high-profile campaigns featuring pop icons Madonna and Kylie Minogue.

  • IBM, the world's largest technology services firm, has agreed to buy business software and services provider Telelogic for about 5.2 billion crowns ($748.6 million) in cash, the Swedish firm said on Monday.

  • World number two truck maker Volvo is selling its 28.7% stake in U.S. truck stop chain Petro Stopping Centers, yielding a capital gain of $46.3 million.

  • Volvo

    Ford Motor said it has not entered talks with anyone to sell Volvo, despite reports that BMW was interested in a possible purchase of the Swedish automaker.

  • Scandinavian Airlines officials met with union representatives Monday in a bid to end a cabin crew strike that has grounded hundreds of flights to and from Sweden since last week.

  • Dubai International Financial Centre (DIFC), the owner of the Dubai stock exchange, is mulling a rival bid to Nasdaq's agreed $3.7 billion takeover of Nordic markets owner OMX, the Sunday Times reported.

  • Scandinavian airline SAS said on Thursday it was cancelling all flights by its Swedish unit on Friday due to a threatened strike by cabin crew.

  • Sweden's Volvo posted a smaller-than-expected fall in first-quarter pretax profit on Friday, weathering a U.S. slowdown, and raised its outlook for its key European truck market.

  • Wireless equipment maker Ericsson said Thursday its net profit grew 27% during the first quarter, boosted by stronger sales in western Europe and Asia.

  • Swedish household appliance maker Electrolux  said Thursday its net profit for the first quarter more than doubled from last year, when results were weighed down by the closing of a plant in Germany.

  • Global fashion chain Hennes & Mauritz sees room to boost its efficiency and is likely to maintain the gross profit margin achieved in its last quarter, its chief executive said on Wednesday.

  • Shares in Air France-KLM increased on Friday after Deutsche Bank upgraded the stock to “buy” from “hold”.

  • Here some of Thurday's big movers on European stock markets: Altadis, Imperial Tobacco, Pirelli, Cap Gemini, Swedish Match, Omega Pharma and AstraZeneca.

  • AOL Wednesday withdrew an estimated $900 million cash offer for Swedish online marketerTradeDoubler after failing to gain the approval of 90% of shareholders.

  • Here some of Wednesday's big movers on European stock markets: Kingfisher, Carrefour, J. Sainsbury, HBOS, RBS, Deutsche Bank, SEB, Skanska and Holcim.

  • Swedish hygiene and paper product maker SCA said on Monday it had signed a deal to buy all of Procter & Gamble's  European tissue operations for 512 million euros ($672 million) in cash.

  • Volkswagen  said Wednesday it has increased its holdings in Swedish truckmaker Scania  to more than 35% of the voting rights, in an attempt to pave the way for a friendly alliance with German rival MAN.

  • Bacardi wants to buy Absolut vodka maker Vin & Sprit and has written to the Swedish government to express its interest, the private drinks company's chief executive told the Financial Times.

  • Sweden's Electrolux, one of the world's top household appliance makers, said Wednesday it had swung to a fourth-quarter net profit from a previous loss, thanks to higher income in all its units, with particularly strong performance in Europe.