Skanska and Saab winners on stagnant Stockholm stock market

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Skanska and Saab winners on stagnant Stockholm stock market
Photo: Pontus Lundahl/TT

The broad OMXS index on the Stockholm Stock Exchange hovered around zero on Monday and closed unchanged.

The OMXS30 index of the most-traded shares was weighed down by declines in Getinge spin-off Lifco, down 2.1 percent, and measurement technology company Hexagon, which fell 1.4 percent.

Among the winners were construction company Skanska and defense group Saab, up 2.1 and 2.0 percent respectively. Engineering giant Atlas Copco rose 1.9 percent.

In the foreign exchange market, the dollar weakened in the wake of news that the Trump administration had threatened to sue the US Federal Reserve (Fed). One dollar closed at 9.17 kronor, a new low for the year, while the euro was at 10.71 kronor.

According to Fed Chairman Jerome Powell, the threat of prosecution - formally for a decision on an ongoing renovation project of the Fed's headquarters - is in fact a consequence of the central bank's interest rate decision, which the Trump administration has harshly criticized.

The price of gold hit a new record high: over $4,600 per ounce (31.1 grams).

Oil prices held steady after the surge last week - with increased geopolitical concerns surrounding oil-producing countries Venezuela and Iran - and hovered around $63 per barrel.

The development on the leading European stock exchanges was mixed. The DAX index in Frankfurt rose around 0.5 percent, while the indices in London and Paris moved marginally up and down, respectively.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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