Stock market up for eight days in a row

The Stockholm Stock Exchange ended the week on a high note. The broad OMXS index closed at a plus of 0.5 percent, which means that the exchange has risen for eight days in a row. New US statistics added further fuel.

» Published: December 06 2024

Stock market up for eight days in a row
Photo: Jakob Åkersten Brodén/TT

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Today's big winner was the pharmacy company Apotea, which made its stock exchange debut. The share price was 84 kronor at closing, which can be compared to the introduction price of 58 kronor.

Otherwise, it was relatively calm on the large-cap index OMXS30. The best performer was the appliance manufacturer Electrolux, which rose 4.6 percent. Generally, the engineering companies performed well. The worst performer was the mining company Boliden, which fell 3.3 percent.

Friday's rise on the stock exchange is the eighth trading day in a row with rising prices. The afternoon's American job statistics did not change this, on the contrary, the stock exchange rose slightly further.

Thus, the OMXS-index rose 3.9 percent during the past week. Calculated from the turn of the year, the Stockholm stock exchange has risen 10.6 percent.

The stock exchanges in Hong Kong and Shanghai rose during the night Swedish time, as investors expect decisions on new economic stimulus packages at a meeting planned for next Wednesday.

On the leading European stock exchanges, the development was mixed. While the FTSE-index in London fell by approximately 0.5 percent, the DAX-index in Frankfurt rose marginally and the CAC-index in Paris rose by more than 1 percent.

Corrected: An earlier version of the text contained an incorrect index figure.

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

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