Storytel surged on the stock exchange

The Stockholm Stock Exchange, which started the day positively, lost momentum when American inflation statistics were presented in the afternoon. The broad OMXS index then fluctuated just above zero and closed at plus 0.2 percent. In contrast, the audiobook company Storytel rose sharply.

» Published: February 12 2025

Storytel surged on the stock exchange
Photo: Henrik Montgomery/TT

A higher-than-expected January inflation rate in the USA caused both the Stockholm Stock Exchange and the leading European stock exchanges to decline.

In Sweden, pharmaceutical giant Astra Zeneca, appliance manufacturer Electrolux, and engineering company Sandvik took the lead on the OMXS30 list, which lists the most traded shares. Astra rose 1.7 percent, while Electrolux and Sandvik both increased 1.6 percent.

In the opposite direction, real estate company SBB fell 1.5 percent, and medical technology company Getinge declined 1.4 percent.

Among the smaller companies, Medicover announced in conjunction with the publication of quarterly figures that the company's CEO of 25 years, Fredrik Rågmark, would be leaving his post. The share fell 1.4 percent.

Among Wednesday's big winners was Storytel, which for the first time reported revenues exceeding one billion kronor for a single quarter. The share surged 12.2 percent.

Nordnet's share price was not significantly affected by the news that it was possible for private individuals to trade in other customers' accounts during the IT failure that affected the online broker on Tuesday. However, the share did fall sharply then.

On the currency market, the US dollar strengthened against the krona. One dollar cost 10.91 kronor at the close of trading. The euro also became slightly more expensive and cost 11.31 kronor.

The indices on the leading European stock exchanges recovered after the decline caused by the American inflation figures. The Frankfurt, London, and Paris stock exchanges all closed slightly up.

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TTT
By TT - Translated and adapted by Sweden Herald under license from TT

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