Svenska Handelsbanken AB (publ) (SHB-A.ST)
- Reuters
Handelsbanken jumps as profit beat eases cost worries
STOCKHOLM (Reuters) -Swedish bank Handelsbanken beat second-quarter net profit expectations on Wednesday as robust interest income and credit quality helped take some of the sting out of lingering high costs, sending its shares sharply higher. Net profit fell to 6.79 billion crowns ($641 million) from 7.10 billion a year ago, but topped the 6.22 billion expected by analysts, LSEG estimates showed. Shares in Handelsbanken, the oldest company on the Swedish stock exchange, were hammered earlier this year after it reported a 12% jump in expenses, a closely watched metric for the bank, which weighed on earnings in the first quarter.
- Yahoo Finance UK
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- Zacks
Svenska Handelsbanken Ab Publ (SVNLY) Upgraded to Buy: Here's What You Should Know
Svenska Handelsbanken Ab Publ (SVNLY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
