Stock market opens slightly higher – Report rushes to calm

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Stock market opens slightly higher – Report rushes to calm
Photo: Claudio Bresciani/TT

The Stockholm Stock Exchange starts Tuesday slightly higher. The OMXS index has risen by 0.1 percent after ten minutes of trading – in line with leading European exchanges. Retail chain Rusta is racing higher after a quarterly report.

Ahead of Tuesday's trading on the Stockholm Stock Exchange, retail chain Rusta has reported quarterly figures and presented a statement of strength ahead of the Christmas shopping season. The share is surging in early trading, up almost 12 percent.

Among the heavyweights in the OMXS30 index, the Wallenberg Sphere's venture capital company EQT rose by 3 percent and the defense group Saab rose by 1.7 percent.

AB Volvo is trending downwards with a price drop of 1.3 percent after a lowered recommendation.

In the bond market, long-term yields have been pushed up ahead of Wednesday's interest rate announcement from the US Federal Reserve (Fed), both in Europe and the US. The yield increases follow the market's repositioning in terms of what they expect from the Fed's policy rate next year.

The rise in interest rates is hitting risk appetite globally. The stock markets on Wall Street closed lower on Monday and among the leading Asian stock exchanges during overnight trading, only the Tokyo Stock Exchange is in a slight plus. It is clearly down in both Hong Kong and Shanghai.

On Monday, the Stockholm Stock Exchange's OMXS index fell 0.3 percent. So far this year, the index has risen 7.7 percent.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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