Industrial Giants Weigh Down the Sluggish Stock Market

» Published:

Industrial Giants Weigh Down the Sluggish Stock Market
Photo: Stina Stjernkvist/TT

Share this article

The Stockholm stock exchange ended the trading week on a minus, weighed down by declines in industrial companies. The broad OMXS index fell 0.6 percent.

Among the losers in OMXS30, which includes the most traded shares, were the mining company Boliden and truck giant Volvo, which lost 3.9 and 2.8 percent, respectively. Several other industrial companies also fell between 2 and 3 percent.

In the opposite direction, the pharmaceutical company Astra Zeneca rose 1.9 percent, and the medical technology company Getinge, which climbed 1.8 percent. The index-heavy fashion giant H&M also closed on a plus, up 0.4 percent.

On the leading European stock exchanges, it was just like in Stockholm - red numbers. The indexes in Frankfurt, London, and Paris fell by about the same amount as the Stockholm stock exchange.

Cryptocurrencies have reacted positively to Donald Trump's victory in the American presidential election. The Bitcoin exchange rate surged on Thursday evening to nearly 77,000 dollars, a new historical record, and on Friday it hovered around 76,000 dollars.

The krona weakened against both the dollar and the euro, and at the close of the exchange, the rate was 10.84 and 11.62 kronor, respectively.

For the week as a whole, the Stockholm stock exchange rose 0.9 percent, and since the turn of the year, the OMXS has risen 8.8 percent.

Tags

Author

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

More news

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

ECB Officials Divided on Future Interest Rate Decisions

ECB Officials Divided on Future Interest Rate Decisions

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Microsoft to Remove Teams from Office Package in EU Agreement

Microsoft to Remove Teams from Office Package in EU Agreement

UK Economy Growth Stagnant in July as GDP Remains Unchanged

UK Economy Growth Stagnant in July as GDP Remains Unchanged

German Inflation Rises to 2.2 Percent in August

German Inflation Rises to 2.2 Percent in August

Stockholm Stock Exchange Sees Modest Gains Amid Global Market Upswings

Stockholm Stock Exchange Sees Modest Gains Amid Global Market Upswings

Insurance Guide: What to Know After Västernorrland Floods

Insurance Guide: What to Know After Västernorrland Floods

Asian Stock Markets Rise on Week's Last Trading Day

Asian Stock Markets Rise on Week's Last Trading Day

Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

Warner Bros Discovery Surges on Wall Street Amid Paramount Bid Rumors

Warner Bros Discovery Surges on Wall Street Amid Paramount Bid Rumors

US Inflation Matches August Expectations

US Inflation Matches August Expectations

ECB Keeps Interest Rates Steady

ECB Keeps Interest Rates Steady

Novo Nordisk to End Remote Work in 2024

Novo Nordisk to End Remote Work in 2024

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Klarna's Stock Market Debut Attracts Swedish Small Investors

Klarna's Stock Market Debut Attracts Swedish Small Investors

Oil Demand Surpasses Expectations for 2026, Says IEA

Oil Demand Surpasses Expectations for 2026, Says IEA

Stockholm Stock Market Rises Slightly as Rusta Drops 13 Percent

Stockholm Stock Market Rises Slightly as Rusta Drops 13 Percent