Wilson Therapeutics AB (WTX) Decline -1.54% on Oct 12

October 12, 2017 - By Peter Erickson

Shares of Wilson Therapeutics AB (STO:WTX) last traded at 96, representing a move of -1.54%, or -1.5 per share, on volume of 2,365 shares. After opening the trading day at 96.75, shares of Wilson Therapeutics AB traded in a close range. Wilson Therapeutics AB currently has a total float of 25.72M shares and on average sees 14,047 shares exchange hands each day. The stock now has a 52-week low of 42.2 and high of 106.5.

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. Wilson Therapeutics AB 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. Wilson Therapeutics AB 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. Wilson Therapeutics AB 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 Wilson Therapeutics AB 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 notable recent Wilson Therapeutics AB (STO:WTX) news were published by: Businesswire.com which released: “Wilson Therapeutics AB: Wilson Therapeutics’ Nomination Committee Appointed” on November 14, 2016, also Prnewswire.com with their article: “Wilson Therapeutics Appoints Andrew Kay as Chairman” published on October 20, 2015, Globenewswire.com published: “Wilson Therapeutics announces support of the annual event Big Wow to raise …” on September 21, 2016. More interesting news about Wilson Therapeutics AB (STO:WTX) were released by: Globenewswire.com and their article: “Utilization of the over-allotment option in Wilson Therapeutics and notice of …” published on June 13, 2016 as well as Globenewswire.com‘s news article titled: “NASDAQ STOCKHOLM WELCOMES WILSON THERAPEUTICS TO THE MAIN MARKET” with publication date: May 12, 2016.

Wilson Therapeutics AB is a Sweden-based biopharmaceutical firm that is active in the development of a treatment for Wilson disease. The company has market cap of $2.47 billion. Wilson disease is a genetic disease that causes copper poisoning. It currently has negative earnings. The Company’s main product is Decuprate , a de-coppering agent with a mechanism of action enabling it to bind copper to restore, in part or in whole, the body’s own buffer system for copper in the liver.

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