AI concerns weigh on Stockholm
Photo: Christine Olsson/TT

AI concerns weigh on Stockholm Stock Exchange as ABB falls 2.3 percent

Concerns in the AI sector are weighing on Wall Street - and sending ripples through Sweden. The Stockholm Stock Exchange's broad OMXS index fell 0.1 percent on Monday.

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This weekend, reports emerged that chip giant Nvidia is planning a 15 percent price increase. In early Monday trading in the US, technology companies took the hit.

Among the heavyweights in Stockholm, automation group ABB, which is exposed to the data centres that are the engine of the AI boom, was listed at the bottom. The share fell 2.3 percent.

Other losers are the defence group Saab, down 2.0 percent, and the major banks.

At the top of the same list was tissue paper manufacturer Essity, up 2.8 percent, followed by engineering companies SKF and Sandvik - up 2.2 and 1.7 percent respectively.

The price of North Sea oil has fallen slightly to $93.7 per barrel.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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