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Broad decline on the Stockholm stock exchange

It was mainly red figures on the Stockholm Stock Exchange on Thursday. The broad OMXS index fell by 2.4 percent.

» Published: 19 December 2024, 08:17

Broad decline on the Stockholm stock exchange
Photo: Erik Simander/TT

The stock exchange followed the development on Wall Street from Wednesday. Then, the US stock exchanges fell back after Federal Reserve Chairman Jerome Powell expressed caution about further interest rate cuts, which caused the stock market temperature to fall.

All 29 of the 30 companies in the OMXS30 index with the most traded shares fell. The investment company Kinnevik fell the most, losing 5.6 percent. The industrial company ABB also fell back, down 5.3 percent, and the real estate company SBB, minus 5.1 percent.

The appliance giant Electrolux fell back 4.6 percent after news from French authorities that the company would be fined over half a billion Swedish kronor for suspected violations of the country's competition rules.

Against the trend, the hygiene company Essity rose 0.3 percent. Among the smaller companies, Bioarctic, which is behind the Alzheimer's drug Leqembi, stood out. The share price rose 30 percent.

The leading European stock exchanges in Frankfurt, London, and Paris fell in line with the Stockholm stock exchange.

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By TTThis article has been altered and translated by Sweden Herald

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