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Down on the Stockholm Stock Exchange – Boliden at the Bottom

The Stockholm Stock Exchange closed today's trading with a negative price development. The broad OMXS index fell by 0.5 percent.

» Updated: 08 October 2024, 17:37

» Published: 08 October 2024

Down on the Stockholm Stock Exchange – Boliden at the Bottom
Photo: Fredrik Sandberg/TT

The development among the large companies was divided with scattered increases. The telecom company Tele2 took the lead with a rise of 1.6 percent and the industrial conglomerate ABB, plus 1.0 percent. The real estate company SBB rose 0.9 percent after yesterday's decline.

Among today's losers, the mining giant Boliden stood out, falling by 3.7 percent. The decline is in line with the entire mining sector after base metal prices have now fallen. This morning, news came from Chinese authorities that they believe they will reach this year's growth targets, but at the same time, they do not provide information about further stimulus measures for the Chinese economy.

China and various investments in the country are something that could increase demand for metals such as copper and aluminum, and today's news therefore has the opposite effect with a decline.

The fashion giant H&M and the industrial giant SKF also fell, by 2.2 percent and 2.5 percent, respectively.

The development on the leading stock exchanges in Europe is in line with Stockholm. The Frankfurt Stock Exchange fared best with a smaller decline of 0.2 percent.

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By TTThis article has been altered and translated by Sweden Herald

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