Strong stock market decline – Saab against the trend

The Stockholm stock exchange fell sharply on Tuesday. The broad OMX index fell 2.4 percent. Heavyweight Astra Zeneca rose after its quarterly report, but had to settle for a marginal increase when the exchange closed.

» Published: November 12 2024

Strong stock market decline – Saab against the trend
Photo: Stina Stjernkvist/TT

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Among the heavyweights in the OMXS30 index, the investment company Kinnevik was found at the bottom, minus 5.9 percent. But the decline was broad – only four stocks in the OMXS30 closed on a plus.

Against the stream, like the day before, the defense conglomerate Saab went up 0.9 percent. Also, the mobile service company Sinch and the tissue paper manufacturer Essity closed on a plus.

Astra Zeneca rose in the morning after the company management in the quarterly report raised the full-year forecast following strong sales. But the increase stopped at 0.2 percent.

The price of the cryptocurrency bitcoin, which on Tuesday morning reached a new record level of around 89,000 dollars, fell in afternoon trading. At the close of the exchange, one bitcoin cost around 86,800 dollars.

The oil price rose slightly compared to Monday. A barrel of North Sea oil cost around 72 dollars at 17:30.

The leading European stock exchanges fell. In both Frankfurt and London, the indices fell by over 2 percent.

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

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