The stock market turned negative
Photo: Fredrik Sandberg/TT

The stock market turned negative - ABB against the tide

The Stockholm Stock Exchange moved lower on Wednesday afternoon and the broad OMXS index closed 0.4 percent lower. Industrial group ABB performed strongly.

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ABB topped the OMXS30 list of most traded stocks after this morning's quarterly report showed a sharp increase in incoming orders. The stock rose 3.8 percent.

Industry peer SKF was the largest fall among the majors, down 3.9 percent.

Nordea and Handelsbanken also reported. Nordea rose 0.4 percent, while Handelsbanken fell 0.5 percent.

At the close in Stockholm, the stock exchanges in Frankfurt, London and Paris were also clearly down, while New York was trading higher.

Oil prices are rising, despite U.S. President Donald Trump extending the ceasefire with Iran. A barrel of North Sea oil costs $101.40, after the price rose 3 percent during the day.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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