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Stock market turns upwards

The Stockholm Stock Exchange turned upwards during morning trading after initially falling – in line with leading European stock exchanges. Shortly after 1 pm, the OMXS index is up 0.1 per cent.

» Updated: 16 July 2024, 16:22

» Published: 24 June 2024

Stock market turns upwards
Photo: Anders Wiklund/TT

The Stockholm stock exchange turned upwards during morning trading after initially falling – in line with leading European stock exchanges. Shortly after 1 pm, the OMXS-index is up 0.1 per cent.

It is also trending upwards in futures trading on Wall Street ahead of Monday's trading start – despite the market being characterised by the uncertain political situation in France ahead of the weekend's parliamentary elections and uncertainty surrounding inflation development.

Among the Stockholm stock exchange's most traded shares in the OMXS30-index, game developer Evolution and telecom equipment manufacturer Ericsson are rising, up 2.2 per cent and 2.0 per cent respectively.

The biggest fallers among OMXS30-shares are heating system manufacturer Nibe Industrier, down 2.8 per cent, and fashion retailer H&M, down 1.1 per cent.

Property company SBB is down 1.1 per cent despite news of a new rental agreement with Hässleholm Municipality featuring a significant rent increase.

Marketing firm Catena Media is plummeting by over 16 per cent following a scrapped profit forecast.

The Stockholm stock exchange ended last week, early due to the Midsummer holiday, with a rise of 1.1 per cent. Counting in Monday's continued rise, the OMXS-index is up 8.4 per cent since the start of the year.

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By TTThis article has been altered and translated by Sweden Herald

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