Stock Market Falls Amid Geopolitical Uncertainty

Geopolitical uncertainty on the market is weighing down stock exchanges around the world, following the Biden administration's threat of stricter rules against cooperation with the Chinese semiconductor industry. The report-heavy Stockholm Stock Exchange had fallen 0.2 percent at closing.

» Published: July 17 2024

Stock Market Falls Amid Geopolitical Uncertainty
Photo: Anders Wiklund/TT

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Geopolitical uncertainty on the market is weighing on stock exchanges around the world, following the Biden administration's threat of stricter rules against cooperation with the Chinese semiconductor industry.

The report-heavy Stockholm Stock Exchange had fallen by 0.2 percent at the close.

The decline on the Stockholm Stock Exchange was broad, while the development on the leading European stock exchanges was mixed.

The interim reports for the second quarter of the year continue to be presented by listed companies. At the same time, new threats from the Biden administration about tougher restrictions for companies cooperating with China's semiconductor industry are dampening the stock market mood.

Report boost for Handelsbanken

Major bank Handelsbanken stood out with a report boost of 7 percent after an interim report showing a slightly higher net interest income than expected.

Mobile operator Tele 2's share, however, fell by 0.9 percent after a report with a profit in line with expectations, but a slightly lower net sales than expected.

Scandic Hotels also reports a profit in line with forecasts and talks about a "good booking situation" and higher price levels in the third quarter. But the share fell by 5.7 percent.

Wallenberg's power company Investor, drying and cooling specialist Munters, and lock manufacturer Assa Abloy have also presented quarterly figures. The Investor share fell by 0.6 percent, while Assa Abloy lost 0.3 percent. Munters, on the other hand, surged by 22.4 percent.

Fear of new trade barriers

Increased expectations of lower interest rates - both in the US and Sweden - have pushed down market rates. This stimulates risk appetite among investors. But in Wednesday's trading, fear of new trade barriers weighs heavier.

On Tuesday, the OMXS index rose by 0.4 percent, and since the turn of the year, the index has risen by 10.6 percent.

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

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