The stock market rose after the US announcement

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The stock market rose after the US announcement
Photo: Johan Hallnäs/TT

The Stockholm Stock Exchange rose broadly on Monday after the announcement from the US that the government shutdown appears to be coming to an end. 25 of 30 heavyweight stocks closed in the red.

On Friday, the stock market ended the week slightly lower, while Wall Street closed around zero. But when the new trading week began, there were better moves on the stock markets after some Democrats joined the Republican side over the weekend, which opens the way for a budget deal to finally be reached. However, it is not yet completely clear.

The Stockholm Stock Exchange's broad OMXS index rose 0.9 percent and the large-cap index OMXS30 rose 1.0 percent.

The best performer among the heavyweights was heat pump manufacturer Nibe, up 3.4 percent. Venture capital company EQT rose 2.9 percent after a positive analysis by major bank Citi.

Among those going against the trend were the hygiene company Essity, down 1.1 percent, and the telecom and internet operators Telia and Tele2, which fell 0.7 and 0.5 percent respectively.

Asia was up sharply during overnight trading, and the major European stock exchanges also rose significantly. The DAX index in Frankfurt performed best, rising nearly 2 percent.

On the foreign exchange market, the krona strengthened marginally against both the dollar and the euro. At the close of trading, one dollar cost 9.52 kronor and one euro cost 11 kronor.

With Monday's rise, the Stockholm Stock Exchange has now risen 6.2 percent since the turn of the year.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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