Stockholm stock exchange falls ahead of heavy US figures

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Stockholm stock exchange falls ahead of heavy US figures
Photo: Fredrik Sandberg/TT

After a positive start, the Stockholm stock exchange reversed course and the broad OMXS index closed down 0.4 percent. Truck giant Volvo rose after its annual report.

Volvo released its financial report on Wednesday morning. Profit was lower but still better than expected, and CEO Martin Lundstedt sees glimmers of hope in order intake. The stock rose 2.6 percent.

The report from the telecommunications operator Tele2 received the opposite reaction; its share fell 4 percent.

The stock exchanges in Frankfurt, London and Paris also fell, while US markets, in a wait-and-see mood, hovered around unchanged.

Tonight, major corporate reports are due in the US. Tesla, Meta (Facebook) and Microsoft will release quarterly reports. In addition, the central bank will issue a new interest-rate announcement.

The krona has lost ground from this morning's levels. One dollar costs 8.89 kronor. The euro is quoted at 10.59 kronor.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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