War escalation worried the stock market

Concern about the development of the Ukraine war dominated the stock market on Tuesday. The Stockholm stock exchange's broad OMXS index fell as much as 2.1 percent, but prices recovered somewhat and the index closed at minus 0.6 percent.

» Published: November 19 2024

War escalation worried the stock market
Photo: Terje Pedersen/NTB/TT

Most of the companies in the OMXS30 index with the most traded shares fell. An exception was the defense conglomerate Saab, which rose 3.7 percent. The share has risen about 64 percent since the turn of the year.

An escalation of the war occurred when Ukraine announced that the country had used the American Atacms system against targets within Russia for the first time. President Vladimir Putin has simultaneously signed a new nuclear doctrine for Russia.

Among the losers on the Stockholm Stock Exchange, the home appliance manufacturer Electrolux and truck giant Volvo stood out, falling 2.2 and 1.7 percent, respectively. Volvo has recently published statistics showing continued large truck inventories in the USA. In addition to these two on the large-cap list, Husqvarna plummeted 4.9 percent after the bank SEB put a sell stamp on the share.

This morning, Embracer announced that the game company had contributed approximately 4.6 billion kronor to its subsidiary Asmodee in connection with the board game company's spin-off from Embracer, which backed down 2.4 percent.

The share in the optics chain Synsam, which released interim reports showing that operating profit rose slightly during the third quarter, fell 4.2 percent.

The major European stock exchanges retreated. The CAC index in Paris and the DAX index in Frankfurt performed the worst, down approximately 0.7 percent.

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By TTThis article has been altered and translated by Sweden Herald

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