SBB Decline Leads to Slight Drop in Stockholm Stock Exchange

The Stockholm stock exchange's initial rise was traded away in afternoon trading. Like leading European stock exchanges, the OMXS index fell slightly. It was toughest for the real estate company SBB – which dove 8 percent.

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SBB Decline Leads to Slight Drop in Stockholm Stock Exchange
Photo: Claudio Bresciani/TT

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The Stockholm stock exchange's broad OMX index fell by 0.2 percent. The stock exchanges in London, Frankfurt, and Paris fell by 0.5, 0.6, and 0.7 percent, respectively.

Among the most traded stocks in the OMXS30 index, the defense group Saab rose by 3.8 percent after news of a new billion-order from the Defense Materiel Administration. The smaller sector colleague Mildef performed even better – up 4.7 percent.

The live casino company Evolution rose by 1.2 percent and the heat pump manufacturer Nibe by 0.8 percent.

Among other heavyweights, it went worst for the real estate company SBB, which fell by 8.2 percent. Also, the mobile operator Telia, the white goods giant Electrolux, and the forest company SCA fell and closed at minus 2.6, 2.3, and 1.9 percent, respectively.

In the Swedish Central Bank's protocol from last week's interest rate meeting, when the key interest rate was lowered by 0.25 percentage points to 2 percent, the Swedish Central Bank's governor Erik Thedéen says that they signal "a certain probability" that a further reduction in the fall may be justified.

On Tuesday, the Stockholm stock exchange's OMX index rose to 1.1 percent. But since the turn of the year, the index is now at minus 3 percent.

World market prices for gold and oil fell sharply on Tuesday, but have moved sideways during Wednesday.

A dollar costs 9.51 kronor and a euro 11.06 kronor at the close of the Stockholm stock exchange.

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

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