Stock market up with Volvo at the top

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Stock market up with Volvo at the top
Photo: Stina Stjernkvist/TT

The Stockholm Stock Exchange turned around on Wednesday after the sharp decline the day before. The broad OMXS index rose 0.4 percent, led by truck manufacturer Volvo.

In addition to Volvo, up 2.6 percent, online casino company Evolution and mining company Boliden were also among the winning stocks. Both rose 1.9 percent.

At the other end of the large company index OMXS30, the defense group Saab was noted, falling 4.5 percent.

What has worried investors around the world in recent days are warnings of an AI bubble, and the stock markets have been shaky ahead of Wednesday evening's quarterly report from AI giant Nvidia, the world's most valuable company.

The Stockholm Stock Exchange fell more than 2 percent on Tuesday, while the US stock exchanges fell slightly less, around 1 percent. During overnight Asian trading, index movements were generally quite small. The leading European stock exchanges also saw small movements on Wednesday: minor gains in Frankfurt and Paris, while the London Stock Exchange lost a few tenths of a percent.

On the foreign exchange market, the krona weakened a few cents against both the dollar and the euro, which at the close of trading cost 9.55 and 11.02 kronor respectively.

The oil price fell a couple of percent to $63 per barrel of North Sea oil.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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