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

Share this article

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.

Tags

Author

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

More news

Asian Stock Markets Mostly Rise in Early Friday Trading
1 MIN READ

Asian Stock Markets Mostly Rise in Early Friday Trading

US Stock Market Rises Despite Urban Outfitters' Sharp Decline
1 MIN READ

US Stock Market Rises Despite Urban Outfitters' Sharp Decline

Swedish Hemp Cultivation Doubles, Reaches Record Levels
1 MIN READ

Swedish Hemp Cultivation Doubles, Reaches Record Levels

Opposition Criticizes Swedish Government's 2026 Budget as Desperate Move
2 MIN READ

Opposition Criticizes Swedish Government's 2026 Budget as Desperate Move

Sweden Can Afford Economic Investments Says Swedbank Economist
2 MIN READ

Sweden Can Afford Economic Investments Says Swedbank Economist

Fed Board Member Lisa Cook Sues Trump Over Dismissal Attempt
1 MIN READ

Fed Board Member Lisa Cook Sues Trump Over Dismissal Attempt

Svantesson Announces 80 Billion Kronor Budget Initiatives for 2026
2 MIN READ

Svantesson Announces 80 Billion Kronor Budget Initiatives for 2026

Victoria's Secret Boosts Profit Forecast Amid Stock Surge
1 MIN READ

Victoria's Secret Boosts Profit Forecast Amid Stock Surge

US GDP Growth Revised Upwards to 3.3% in Second Quarter
1 MIN READ

US GDP Growth Revised Upwards to 3.3% in Second Quarter

Sweden Faces Unusual Electricity Import as Prices Surge
2 MIN READ

Sweden Faces Unusual Electricity Import as Prices Surge

Embracer's Crystal Dynamics Cuts Staff Following Microsoft Game Cancellation
1 MIN READ

Embracer's Crystal Dynamics Cuts Staff Following Microsoft Game Cancellation

Price Increases Drive Profit Growth for Stockholm Exergi
1 MIN READ

Price Increases Drive Profit Growth for Stockholm Exergi

NCC Secures 7.5 Billion Kronor Contract from Swedish National Grid
1 MIN READ

NCC Secures 7.5 Billion Kronor Contract from Swedish National Grid

Tesla Sales Decline in Europe for Seventh Consecutive Month
1 MIN READ

Tesla Sales Decline in Europe for Seventh Consecutive Month

AI Chip Future Hinges on Nvidia's China Sales Amid US Tensions
3 MIN READ

AI Chip Future Hinges on Nvidia's China Sales Amid US Tensions

Telia and Nordea Shares Decline on Stockholm Stock Exchange
1 MIN READ

Telia and Nordea Shares Decline on Stockholm Stock Exchange

Swedish Economy Sees Slight Growth in August
1 MIN READ

Swedish Economy Sees Slight Growth in August

Absolut Vodka Owner Pernod Ricard Warns of Tariff Impact
1 MIN READ

Absolut Vodka Owner Pernod Ricard Warns of Tariff Impact

Microsoft Employees Fired After Office Break-In Protest
1 MIN READ

Microsoft Employees Fired After Office Break-In Protest

Greenhouse Gas Emissions in Sweden Drop 3.6% in First Quarter
1 MIN READ

Greenhouse Gas Emissions in Sweden Drop 3.6% in First Quarter