Stockholm Stock Exchange Rises 1.2 Percent on Strong Job Market Data

The Stockholm stock exchange took the weekend with a jump. The broad OMXS-index rose 1.2 percent following positive signals from both the USA and China.

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Stockholm Stock Exchange Rises 1.2 Percent on Strong Job Market Data
Photo: Claudio Bresciani/TT

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After cautious trading during the morning, the stock market clearly rose after American labor market figures exceeded expectations. Moreover, it was reported earlier during the day that China is now considering how to move forward in the tariff conflict with the USA.

The majority of companies on the heavyweights list OMXS30 closed on a plus. At the top, the cloud service company Sinch and the heat pump manufacturer Nibe stood out, rising 4.8 and 4.7 percent, respectively.

Against the stream, among others, the pharmaceutical giant Astra Zeneca fell 1.4 percent, and Ericsson, minus 0.5 percent.

Among the smaller companies, a strong price surge was noted for Catella. The real estate company soared 16.4 percent on the news that it is selling a property in Copenhagen, which will contribute 260 million kronor to the company.

The upswing in Stockholm is, however, somewhat weaker than in the rest of Europe, where the leading stock markets went very strongly, especially the Frankfurt stock exchange's DAX index and the Paris stock exchange's CAC40 index, both of which traded around 2.5 percent plus.

The London stock exchange rose for the 15th day in a row, the longest upswing streak recorded for the FTSE100 index.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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