Ericsson surges 11 percent on Stockholm Stock Exchange after profit beat and SEK 15 billion buyback

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Ericsson surges 11 percent on Stockholm Stock Exchange after profit beat and SEK 15 billion buyback
Photo: Pontus Lundahl/TT

The Stockholm Stock Exchange began the last trading day of the week cautiously. At the opening of the exchange, the OMXS rose 0.1 percent.

Going against the trend is telecoms company Ericsson, which is up 11 percent on reports. The company reported a profit that exceeded expectations this morning and announced a share buyback program of SEK 15 billion.

Truecaller rises 25 percent after the company released preliminary fourth-quarter figures.

The Swedish krona has strengthened significantly against both the dollar and the euro recently. On Friday morning, one dollar traded at 9.02 kronor and one euro 10.59 kronor.

Asian stock markets are mostly up overnight after US stock markets closed sharply higher.

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

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