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.

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

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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.

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

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