Stock Market Falls – Red Numbers Among Large-Cap Stocks

The Stockholm Stock Exchange fell on Tuesday and closed at minus 0.7 percent. The investment company Kinnevik went against the trend and soared after Tuesday's quarterly report.

» Updated: September 03 2024

» Published: July 09 2024

Stock Market Falls – Red Numbers Among Large-Cap Stocks
Photo: Fredrik Sandberg/TT

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The Stockholm stock exchange fell on Tuesday and closed at minus 0.7 percent.

The investment company Kinnevik went against the trend and surged after Tuesday's quarterly report.

The decline among OMXS30 stocks was broad at the close, with 24 out of 30 stocks falling on Tuesday.

Examples include the bearing manufacturer SKF, which fell 3.1 percent. The major banks also ended the day in the red – for the second day in a row. For example, Swedbank fell by 2.0 percent and Nordea by 2.4 percent.

In contrast, the game developer Evolution rose 0.7 percent.

The investment company Kinnevik's share surged 5.0 percent after its report for the second quarter.

The defense group Saab announced on Tuesday that it had received a billion-kronor order from the Lithuanian Ministry of Defense for the air defense system Mobile Short Range Air Defence. The share was up 0.1 percent at the close.

On the leading stock exchanges in Europe, the development was the same as in Stockholm.

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

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