Stockholm Stock Exchange opens in the red – Sinch plummets

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Stockholm Stock Exchange opens in the red – Sinch plummets
Photo: Claudio Bresciani/TT

The Stockholm Stock Exchange opens again with clear declines. Right at the opening of the stock exchange, OMXS falls 0.7 percent – and the cloud service company Sinch plummets after a quarterly report.

On the large-cap list OMXS30, Nibe and Tele2 are going against the grain and are seeing slight gains while the majority of large companies are falling. At the bottom of the index is Nordea, which is down 2.5 percent. The large bank has presented an updated strategy this morning.

Cloud services company Sinch's report plunges 9 percent, while candy company Cloetta rises 2 percent on its report.

Storskogen rises 15 percent after reporting better sales and profits than analysts had expected.

Asian stock markets are broadly down after Wall Street closed sharply lower on Tuesday. AI companies were the biggest losers, with the tech-heavy Nasdaq index falling 2 percent. At the heart of the market's concerns are the high valuations of companies in the AI sector.

The Riksbank is not expected to make any changes to the policy rate when they release their announcement shortly after the stock market opens.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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