Stockholm Stock Exchange Surges in Late Trading Session

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Stockholm Stock Exchange Surges in Late Trading Session
Photo: Claudio Bresciani/TT

The Stockholm stock exchange revolved around zero for a long time on Tuesday – but the prices rose sharply during the last two hours of trading. The broad OMXS index closed at plus 0.7 percent.

Among the winners was lock giant Assa Abloy, which rose 5.6 percent after an interim report. Medical technology company Getinge also reported a lift, up 2.7 percent.

Quarterly figures were also presented by telecom operator Tele 2, which fell back 0.7 percent.

Gardening equipment company Husqvarna's share fell 7.1 percent after an unexpectedly weak report for the third quarter and the announcement that the company will close a component factory.

It was upwards on leading Asian stock exchanges during the night's trading when the concern for an escalated trade war between the US and China decreased ahead of the planned meeting between the leaders Donald Trump and Xi Jinping.

Also, the leading European stock exchanges in Frankfurt, London, and Paris rose.

The Stockholm stock exchange, which rose 1.2 percent on Monday, has now since the turn of the year risen 6.5 percent.

The gold price fell by just over 5 percent to 4,126 dollars per ounce (31.1 grams) after Monday's new historic record. As a consequence, the share in mining company Lundin Gold plummeted 16 percent.

The krona was further strengthened by a few öre against the euro, which at the close of trading cost 10.94 kronor – the strongest rate in over a month. The dollar, which was largely unchanged, traded at 9.43 kronor.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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