Stock market rebounds ahead of
Photo: Christine Olsson/TT

Stock market rebounds ahead of Fed rate decision, OMXS rises 0.9%

The stock market recovered ahead of tonight’s US interest rate announcement, in line with leading European exchanges. The broad OMXS index closed up 0.9 percent.

Among Stockholm stocks, gains were broad-based. The defense group Saab rose the most among the OMXS30 stocks, up 2.3 percent.

The worst performer was clothing giant H&M, which fell 0.3 percent.

In the fixed income market - where pricing gives a slightly higher than 90 percent probability of a hike in the US policy rate tonight - long-term interest rates are trending slightly downward.

However, long-term interest rates had been pushed up to their highest levels since the financial crisis in large parts of the Western world before Wednesday - which has dampened risk appetite globally.

The leading European stock exchanges also rose, but not as much as Stockholm.

The price of North Sea oil (Brent) is falling to around $105 per barrel.

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

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