Sour on the stock exchange on the last trading day of the year

This year's last trading day on the Stockholm Stock Exchange ended on a low note, with declines for, among others, ABB and Kinnevik.

» Published:

Sour on the stock exchange on the last trading day of the year
Photo: Jakob Åkersten Brodén/TT

Share this article

The stock market's broad index, OMXS, ended the day at minus 0.3 percent.

Among the large companies on the OMXS30 list, heat pump manufacturer Nibe performed the best, up 2 percent. The company has otherwise had a tough year on the stock market, with a decline of nearly 40 percent.

Industrial company ABB ended up at the bottom of the list for the day, with a decline of 1.5 percent. Nor did investment company Kinnevik have a bright day on the stock market, with a decline of 1 percent. Overall, a majority of the list's shares fell, contributing to the index closing at minus 0.3 percent.

So far this year, the Stockholm stock market has risen by nearly 6 percent, which is significantly lower than the American S&P 500, which has risen by around 25 percent. The somewhat modest result can be explained, among other things, by the fact that profits in banks and industrial companies have not increased, according to stock analyst Peter Malmqvist.

According to Malmqvist, the good performance in the US is almost exclusively due to the successes of the large tech giants. For example, chip manufacturer Nvidia has risen by nearly 180 percent.

The development on the leading stock exchanges in Europe mirrored that in Stockholm, with red numbers.

Tags

Author

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

More news

High Electricity Prices in Sweden as Several Nuclear Reactors Halted

High Electricity Prices in Sweden as Several Nuclear Reactors Halted

Oracle Stock Soars 30% on Boosted Cloud Investment Forecast

Oracle Stock Soars 30% on Boosted Cloud Investment Forecast

Government Plans to Lower Hiring Costs for Young People

Government Plans to Lower Hiring Costs for Young People

Norwegian Interest Rate Cut Possible Amid Stable Inflation

Norwegian Interest Rate Cut Possible Amid Stable Inflation

Swedish Economy Sees 0.2% GDP Decline in July

Swedish Economy Sees 0.2% GDP Decline in July

Klarna's Valuation Criticized as Unfair by Chief Analyst

Klarna's Valuation Criticized as Unfair by Chief Analyst

Zara Owner Inditex Sees Profit Rise in First Half of Fiscal Year

Zara Owner Inditex Sees Profit Rise in First Half of Fiscal Year

Stock Market Edges Up as Clas Ohlson Shares Surge 12%

Stock Market Edges Up as Clas Ohlson Shares Surge 12%

Novo Nordisk to Cut 9,000 Jobs Amid Organizational Changes

Novo Nordisk to Cut 9,000 Jobs Amid Organizational Changes

Clas Ohlson Sees Profit Rise in First Quarter with Strong Sales

Clas Ohlson Sees Profit Rise in First Quarter with Strong Sales

Used Electric Car Sales Surge in First Half of the Year

Used Electric Car Sales Surge in First Half of the Year

Handelsbanken Predicts Final Interest Rate Cut in September

Handelsbanken Predicts Final Interest Rate Cut in September

District Heating Prices Surge Again with Aggressive Increases

District Heating Prices Surge Again with Aggressive Increases

Asian Markets Mostly Rise in Wednesday Trading

Asian Markets Mostly Rise in Wednesday Trading

Judge Halts Trump's Firing of Federal Reserve Member Lisa Cook

Judge Halts Trump's Firing of Federal Reserve Member Lisa Cook

Klarna's Valuation Tops 140 Billion Kronor Ahead of NYSE Debut

Klarna's Valuation Tops 140 Billion Kronor Ahead of NYSE Debut

Wall Street Hits New Highs Amid Job Data Concerns

Wall Street Hits New Highs Amid Job Data Concerns

EU Clothing Manufacturers to Bear Costs of Textile Waste

EU Clothing Manufacturers to Bear Costs of Textile Waste

Norway Sets Fixed Electricity Price from October 1

Norway Sets Fixed Electricity Price from October 1

Volvo Cars CEO Håkan Samuelsson Plans to Find Successor in Two Years

Volvo Cars CEO Håkan Samuelsson Plans to Find Successor in Two Years