Stockholm Stock Exchange down but Saab took off

Published:

Stockholm Stock Exchange down but Saab took off
Photo: Pontus Lundahl/TT

The Stockholm Stock Exchange turned lower after yesterday's gains; OMXS closed down 0.9 percent. The defense group Saab faced headwinds.

At the bottom of the OMXS30 were the telecom company Ericsson and the venture capital company EQT, down 4.4 percent and 3.9 percent, respectively.

Clothing giant H&M also fell, down 3.6 percent, after competitor Fast Retailing reported better-than-expected results this morning.

At the top of the list among large companies was defense group Saab, up 2.4 percent. So far this year, the stock has climbed 19.3 percent.

European defense stocks have generally performed strongly in recent days, following the geopolitical concerns that have mounted since the US struck Venezuela. On Wednesday evening, after the close on Wall Street, President Donald Trump stated that he wants to increase the US's already huge defense budget by 50 percent, which sent US weapons stocks soaring.

Despite the gains in the defense sector, two of the three major indexes in New York traded slightly down in early Thursday trading.

At the close in Stockholm, Paris was trading slightly up, while Frankfurt and London hovered around zero.

On Wednesday, the Stockholm Stock Exchange recorded new record levels for both the broad index OMXSPI and the large-cap index OMXS30.

Loading related articles...

Tags

Author

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

More news

Loading related posts...