Stockholm stock market falls as
Photo: Christine Olsson/TT

Stockholm stock market falls as Sandvik and Volvo Cars slump amid global AI hype shift

The Stockholm Stock Exchange fell, with steep declines for several engineering giants, while global markets are gripped by a new round of AI hype. The OMXS index closed down 0.2 percent.

Sandvik shares fell 9.3 percent after the engineering group reported slightly lower order intake than expected. Epiroc and SKF also posted declines, down 6 and 5.6 percent respectively.

Another steep post-results fall was Volvo Cars, down 10.8 percent.

Friday's workshop boom was slowed by a rise in Wallenberg's private equity company EQT, up 11 percent, and a Saab rally of 9.7 percent, both up after quarterly figures. The kitchen manufacturer Nobia, which also reported results, surged 15.3 percent.

Stock markets around the world are seeing a decline in AI stocks. Initial trading on Wall Street was clearly down.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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