The Stockholm Stock Exchange closed the week with a decline

The Stockholm stock exchange's downturn continued on Friday. At closing, the broad OMXS index was down 0.8 percent in line with major world stock exchanges.

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The Stockholm Stock Exchange closed the week with a decline
Photo: Fredrik Sandberg/TT

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Friday's labor market figures from the USA had no clear impact on the market. Although fewer jobs were created than expected in December, the unemployment rate simultaneously decreased. The morning's initial decline on the Stockholm Stock Exchange persisted.

The banking sector rose with Handelsbanken and Swedbank at the top, as competitor Danske Bank surged on the Copenhagen Stock Exchange following the bank's financial report.

Handelsbanken and Swedbank rose 0.5 percent, and SEB 0.1 percent.

Two reporting companies went in the opposite direction, construction giant Skanska rose 5.9 percent, while defense conglomerate Saab fell 6.2 percent.

On the currency market, the Swedish krona continued to strengthen against the US dollar, which now costs 10.93 kronor.

Hoist Finance, which surged on the stock exchange last year, experienced a sharp price drop, with the stock falling 19.5 percent and becoming one of the worst-performing companies on the stock exchange.

On the leading European stock exchanges, the development was similar. Frankfurt, London, and Paris were all clearly negative when trading closed in Stockholm.

Even on Wall Street in New York, the mood was gloomy, with declines on all three major indices.

During the week, the Stockholm Stock Exchange, including Friday's decline, has fallen 0.6 percent. However, so far this year, the stock exchange is up 6.8 percent.

Corrected: An earlier version contained an incorrect statement about which month the US labor market statistics referred to.

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

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