Stockholm Stock Exchange rises after Fed announcement

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Stockholm Stock Exchange rises after Fed announcement
Photo: Fredrik Sandberg/TT

The Stockholm Stock Exchange started Thursday's trading slightly lower but regained its courage and turned around. At closing, the broad OMXS index had risen 0.6 percent after a strong afternoon.

On the OMXS30 list of the most traded stocks, technology trading company Addtech rose 2.9 percent.

The clothing giant closed H&M up 2.6 percent, after the major American bank Citi changed its recommendation for the company from sell to neutral.

At the other end, the Wallenberg sphere's powerhouse Investor and the measurement technology company Hexagon fell 0.9 and 0.7 percent respectively.

The Federal Reserve (Fed) cut the US benchmark interest rate by a quarter of a percentage point to a range of 3.50–3.75 percent on Wednesday. At the same time, the Fed is cautious about future cuts.

At the close in Stockholm, the stock exchanges in Frankfurt, London and Paris were also clearly in the red. On Wall Street in New York, two of the three major indexes were equally clearly in the red.

One dollar costs 9.25 kronor on Thursday and one euro costs 10.87 kronor.

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

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