Volvo tops positive stock market

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Volvo tops positive stock market
Photo: Claudio Bresciani/TT

The Stockholm Stock Exchange ended the trading week slightly higher, led by truck manufacturer Volvo. The broad OMXS index rose 0.3 percent.

Volvo's rise, up 2.8 percent, came after the major American bank Citi issued a buy recommendation for the stock. The second best performer in the large-cap OMXS30 index was defense group Saab, which rose 2.3 percent.

At the bottom of the index was technology trading company Addtech, which fell 1.3 percent.

Asian stock markets were mixed in the morning hours after a cautious trading day on Wall Street the day before. Indices on the leading European stock exchanges moved in different directions: down in London, up in Frankfurt and almost unchanged in Paris.

Inflation statistics from the US, published at 4 p.m. Swedish time, led to both OMXS and OMXS30 losing some ground in Stockholm.

On the foreign exchange market, the dollar was largely unchanged against the krona, while the euro became slightly cheaper. At the close of trading, one dollar cost 9.41 kronor and one euro 10.95 kronor.

The stock market week as a whole ended with an increase of 0.7 percent. Since the beginning of the year, the Stockholm Stock Exchange has risen 8 percent.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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