
(Updating with full report)
STOCKHOLM (Thomson Financial) - Shares closed slightly higher, as gains for Scania and Volvo offset losses for Ericsson and mining stocks, with investors largely sidelined ahead of the release of minutes from the Fed's last interest rate meeting, seeking indications of its future direction on rates.
The OMX Stockholm All-Share index closed up 0.63 pct at 404.09, while the OMX Stockholm 30 finished 0.54 pct higher at 1,258.58.
Scania B closed up 5.03 pct at 177.50 skr bid. Handelsbanken upped its target price on the stock to 190 skr and raised its operating profit forecast by 2.5 pct.
Recent talk of a bid by Volkswagen AG for MAN AG as a prelude for a three-way tie up with Scania have also helped sentiment around the stock.
Volvo B also closed 4.15 pct at 125.50 skr.
Elsewhere the market was more mixed with investors awaiting the start of the third-quarter reporting season and concerns about the recent weakening of the US dollar.
Ericsson B closed down 0.91 pct at 26.20 skr.
Among the operators TeliaSonera closed unchanged at 56.00, and Tele2 B up 0.72 pct at 140.25.
Tele2's CEO Lars-Johan Jarnheimer said his company will divest further operations and use the proceeds to acquire companies or more licences in Russia before the year end, reported Dagens Industri.
Jarnheimer was speaking after last weekend's divestment of Tele2 Spain and Tele2 Italy to Vodafone for 7.1 bln skr, and the sale of its Austrian business Telekom Austria AG's for 65 mln skr.
Mining stocks were lower on falling copper prices. Boliden closed down 2.52 pct at 135.50 and Lundin Mining off 0.28 pct at 88.50.
Engineering stocks also closed mainly lower pressured by US dollar concerns. Sandvik closed down 2.12 at 138.50 and SKF B down 1.05 pct at 141.25.
Elsewhere in the market, Nordea closed up 0.98 pct at 113.10, Hennes & Mauritz B up 1.33 pct at 419.50, and Skanska B down 0.88 pct at 140.50. TFN.Stockholm@thomson.com sjr/vs/cm2/sjr/ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News