AB SKF (SKF-A) Plunges -1.49% on May 23
Shares of AB SKF (STO:publ) last traded at 185.2, representing a move of -1.49%, or -2.8 per share, on volume of 1,132 shares. After opening the trading day at 187, shares of AB SKF traded in a close range. AB SKF currently has a total float of 456.36 million shares and on average sees 11,811 shares exchange hands each day. The stock now has a 52-week low of 154.5 and high of 201.5.
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. AB SKF 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. AB SKF 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.
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