SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Inflation report from the USA boosts the stock market

An unexpectedly positive inflation report from the USA caused the Stockholm Stock Exchange to rise on Thursday. The broad OMXS index closed at plus 1.1 percent.

» Updated: July 16 2024

» Published: July 11 2024

Inflation report from the USA boosts the stock market
Photo: Anders Wiklund/TT

An unexpectedly positive inflation report from the USA caused the Stockholm Stock Exchange to rise on Thursday. The broad OMXS index closed at plus 1.1 percent.

New figures showed that American inflation fell to 3.0 percent in June, compared to 3.3 percent in May. And the rise in Stockholm was broad: 28 of 30 shares in the OMXS30 index rose. The real estate company SBB and the appliance giant Electrolux performed the best, increasing by 6.8 and 3.8 percent, respectively.

The only company that fell was the forestry company SCA, which lost 1.3 percent. The telecom equipment manufacturer Ericsson's share closed unchanged.

In the morning, the Norwegian major bank DNB reported new quarterly figures, showing an unexpectedly large profit increase. Next week, it's time for DNB's Swedish competitors – who also did well on Thursday. SEB and Swedbank rose by 2.7 and 2.0 percent, respectively.

Outside the large-cap list, the pressured credit management company Intrum rose 6.1 percent after the company announced that it had entered into a binding agreement with lenders.

The krona strengthened slightly against both the dollar and the euro. One euro cost 11.39 kronor and one dollar cost 10.49 kronor at the close of the exchange.

The cryptocurrency bitcoin has recovered somewhat after last week's fall, when it was at its lowest rate against the dollar since February. On Thursday, bitcoin rose to around 57,600 dollars.

Indices on leading European stock exchanges also rose, although slightly less than in Stockholm.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

E-coli outbreak hit McDonald's results
1 MIN READ

E-coli outbreak hit McDonald's results

Court Rejects Vattenfall Project
1 MIN READ

Court Rejects Vattenfall Project

Gold at a new record level
1 MIN READ

Gold at a new record level

Trump on Steel Tariffs: "No Catastrophe"
3 MIN READ

Trump on Steel Tariffs: "No Catastrophe"

The Stockholm Stock Exchange Rises Slightly
1 MIN READ

The Stockholm Stock Exchange Rises Slightly

Inflation moving in different directions in Norway and Denmark
1 MIN READ

Inflation moving in different directions in Norway and Denmark

Decreased consumption in December
1 MIN READ

Decreased consumption in December

Skanska builds out hospital in Gothenburg
1 MIN READ

Skanska builds out hospital in Gothenburg

NCC Proposes Extra Dividend
1 MIN READ

NCC Proposes Extra Dividend

Nokia changes CEO
1 MIN READ

Nokia changes CEO

Mixed on Asian Exchanges
1 MIN READ

Mixed on Asian Exchanges

The People's Share That Flopped – Volvo Cars Stuck in a Ditch
2 MIN READ

The People's Share That Flopped – Volvo Cars Stuck in a Ditch

Cash withdrawals continue to decrease
1 MIN READ

Cash withdrawals continue to decrease

Three quarters of the salary to live in Los Angeles
1 MIN READ

Three quarters of the salary to live in Los Angeles

Trump: Stop manufacturing one-cent coins
1 MIN READ

Trump: Stop manufacturing one-cent coins

Trump plans to introduce steel tariffs
2 MIN READ

Trump plans to introduce steel tariffs

Half Expect Rising Housing Prices
1 MIN READ

Half Expect Rising Housing Prices

Food prices are rising: "The government must wake up"
2 MIN READ

Food prices are rising: "The government must wake up"

Soon, there will be no more parental allowance on weekends
1 MIN READ

Soon, there will be no more parental allowance on weekends

Klarna's CEO: "I give up – embracing crypto"
1 MIN READ

Klarna's CEO: "I give up – embracing crypto"