Major Banks: A Heavy Burden on the Stockholm Stock Exchange

After a day when the courses first fell but then recovered, the Stockholm Stock Exchange's broad OMXS index ended the week with a plus of 0.1 percent. But the major banks had a tough day.

» Published:

Major Banks: A Heavy Burden on the Stockholm Stock Exchange
Photo: Fredrik Sandberg/TT

Share this article

Among the 30 most traded stocks in the OMXS30 index, Nordea fell the most, 1.8 percent. Second and third on the list were SEB and Swedbank, with minus 1.7 and 1.4 percent, respectively.

Handelsbanken fared slightly better: minus 0.7 percent.

Better was the case for the clothing chain H&M, which rose 1.6 percent. The engineering company ABB went up 0.9 percent.

Large parts of the day saw the stock exchange clearly down, but a clear recovery occurred in the afternoon.

At the close in Stockholm, Frankfurt, London, and Paris were on minus.

Meanwhile, the tone in New York was significantly more optimistic, with all three major indexes clearly on plus – after a period with significantly more brittle confidence in the future.

The krona reached its lowest level against the dollar after the interest rate announcement from the USA on Wednesday. On Friday, one dollar costs 11.02 kronor, and one euro 11.40 kronor.

Tags

Author

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

More news

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Reach Framework Agreement on Tiktok's Future

USA and China Reach Framework Agreement on Tiktok's Future

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year

Fashion Trade Sales Rise for Third Consecutive Month

Fashion Trade Sales Rise for Third Consecutive Month

Powell's Rate Signal Influences Swedish Households Too

Powell's Rate Signal Influences Swedish Households Too

Asian Markets Rise Despite Weak China Data

Asian Markets Rise Despite Weak China Data

ANZ Bank Faces Record Fines for Bond Deal Misconduct

ANZ Bank Faces Record Fines for Bond Deal Misconduct

Trump Welcomes Foreign Investment and Workforce in the USA

Trump Welcomes Foreign Investment and Workforce in the USA

Government Boosts Support for Sweden's Regional Airports

Government Boosts Support for Sweden's Regional Airports

Klarna CEO: Embracing "Swedishness" as a Key Asset

Klarna CEO: Embracing "Swedishness" as a Key Asset

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans