Stockholm Stock Exchange Falls Amid Political Unrest and US Moves

Political unrest in France and new moves by the US president led on Tuesday to shaky trading on the Stockholm stock exchange. At the close, the broad OMXS index had fallen by 0.5 percent.

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Stockholm Stock Exchange Falls Amid Political Unrest and US Moves
Photo: Johan Hallnäs/TT

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At the bottom of the large company list OMXS30 were the heat pump company Nibe and the technology trading company Addtech, down 2.6 and 2.0 percent, respectively. The four major banks also had a bad day and all closed on minus.

Winners included, among others, the engineering company Atlas Copco, which rose 0.8 percent.

At the same time, the Paris stock exchange dropped significantly. A new political crisis has arisen in France after Prime Minister Francois Bayrou requested a vote of no confidence in him and his government, which could lead to him having to leave after just nine months in office.

On Tuesday morning, US President Donald Trump also announced that he had fired one of the Federal Reserve's board members. The board member herself, Lisa Cook, says, however, that the president does not have the authority to do this. The conflict is now seen as something that can affect confidence in the Federal Reserve.

Among the smaller companies, a strong surge was noted for the research company Bioarctic. The stock rose 13.6 percent after the news that the company had entered into an agreement with the Swiss pharmaceutical giant Novartis.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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