The Stockholm Stock Exchange Closed Up

The Stockholm stock exchange continued to rise after the Swedish Central Bank's announcement of a double interest rate cut on Thursday. At the close, the broad OMXS index was up 1.6 percent.

» Published: November 07 2024

The Stockholm Stock Exchange Closed Up
Photo: Erik Simander/TT

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Among the major companies, the defense conglomerate Saab, rose 4.9 percent, AB Volvo, plus 4.8 percent, and bearing manufacturer SKF, up 4.8 percent.

In the opposite direction, cloud service company Sinch, fell 8.3 percent. Among the losers were also air heat pump manufacturer Nibe, which fell 2.1 percent, and pharmaceutical company Astra Zeneca, which lost 1.6 percent.

The development on leading European stock exchanges was more mixed – Frankfurt and Paris traded up, 1.8 and 0.8 percent, respectively. London traded slightly down, 0.1 percent.

In the USA, there were happy faces yesterday when it became clear that Donald Trump had won the presidential election. In addition to the leading indexes closing up, the election outcome was also reflected in Trump's own media company. The Tesla share also rose sharply. In early trading on Thursday, the leading indexes traded both up and sideways.

The krona continues to strengthen against the dollar following the Swedish Central Bank's interest rate cut and costs 10.69 kronor at the close of the stock exchange. One euro costs 11.56 kronor.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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