Stock market opens slightly lower in Stockholm

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Stock market opens slightly lower in Stockholm
Photo: Pontus Lundahl/TT

The Stockholm Stock Exchange started the trading week slightly lower, in line with leading European exchanges. The OMXS index was down 0.1 percent after a few minutes of trading.

Among the index heavyweights, pharmaceutical manufacturer AstraZeneca and clothing chain H&M weigh heavily, down 1.2 and 0.9 percent respectively.

Defense group Saab is cushioning the decline with a price increase of 1.7 percent. Mining group Boliden is also doing well, up 1.6 percent.

On the foreign exchange market, the dollar is weakening in the wake of news that the Trump administration has threatened to sue the US central bank, the Federal Reserve (the Fed). One dollar costs 9.17 kronor, while the euro is trading at 10.71 kronor on that market.

It also points downward in futures trading ahead of this week's stock market opening on Wall Street - after a night of gains on leading Asian stock exchanges.

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

The gold price has hit new record levels during overnight trading and the oil price is holding steady after its rise last week.

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

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