SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

The Banks Weighed Down the Stock Exchange

» Updated: 18 September 2024, 21:06

» Published: 20 August 2024

The Banks Weighed Down the Stock Exchange
Photo: Stina Stjernkvist/TT

After several days of rising, the Stockholm Stock Exchange turned downward on Tuesday. The OMXS-index fell by 0.5 percent.

During the day, the expected announcement came that the Swedish Central Bank is lowering the interest rate by 0.25 percentage points. The Swedish Central Bank also sent signals that there may be three more rate cuts this year, in addition to today's.

And those signals weighed heavily on the major banks. All four major bank stocks fell between 1.4 and 2.0 percent.

Almost all companies on the OMXS30-index, among the most traded stocks, fell during the day.

One of those who went against the trend was the heat pump company Nibe, which rose by 2.4 percent.

The leading European stock exchanges also fell back on Tuesday. The leading indexes on the New York Stock Exchange also started downward.

The krona has strengthened further against a generally weaker dollar, which cost 10.25 kronor in the late afternoon. The euro was at 11.38 kronor.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Took a tough stance on crypto companies - resigns
1 MIN READ

Took a tough stance on crypto companies - resigns

Ingvar Carlsson on PG: "A very loyal friend"
2 MIN READ

Ingvar Carlsson on PG: "A very loyal friend"

No Wage Guarantee in American Process
1 MIN READ

No Wage Guarantee in American Process

He became "PG" to the entire Swedish people
3 MIN READ

He became "PG" to the entire Swedish people

PG Gyllenhammar has died: "meant a lot"
1 MIN READ

PG Gyllenhammar has died: "meant a lot"

Unstable US stock market ends on a plus
1 MIN READ

Unstable US stock market ends on a plus

Temu's owner shows its hand
1 MIN READ

Temu's owner shows its hand

Nvidia rises in pre-trading on Wall Street
1 MIN READ

Nvidia rises in pre-trading on Wall Street

Reconstruction in the USA to save Northvolt
3 MIN READ

Reconstruction in the USA to save Northvolt

Northvolt: Negotiations are still ongoing
3 MIN READ

Northvolt: Negotiations are still ongoing

Higher Compensation for Job Interviews in Another Location
1 MIN READ

Higher Compensation for Job Interviews in Another Location

Vehicle Giant Warns of Challenges in 2025
1 MIN READ

Vehicle Giant Warns of Challenges in 2025

Unchanged interest rate in Turkey
1 MIN READ

Unchanged interest rate in Turkey

Trump anxiety in the EU over US tariffs
3 MIN READ

Trump anxiety in the EU over US tariffs

Weak demand for scrapping premium
1 MIN READ

Weak demand for scrapping premium

E-fuel company takes in half a billion
1 MIN READ

E-fuel company takes in half a billion

New Report Boost for AI Giant Nvidia's Share
2 MIN READ

New Report Boost for AI Giant Nvidia's Share

Stockholm Stock Exchange Turned Upwards
1 MIN READ

Stockholm Stock Exchange Turned Upwards

Bitcoin closer to the dream limit
1 MIN READ

Bitcoin closer to the dream limit

Higher fee to stop burning of plastic
2 MIN READ

Higher fee to stop burning of plastic