Yo-yo-like stock market closed in the red

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Yo-yo-like stock market closed in the red
Photo: Fredrik Sandberg/TT

The Stockholm Stock Exchange opened the trading week in the red, turned green but lost steam again in the afternoon and closed in the red. The broad OMXS index fell 0.5 percent.

The large-cap index OMXS30 also fell, 0.4 percent. The largest increase in the index was accounted for by the telecom company Ericsson, with 1.8 percent, followed by the engineering company SKF, which rose 1.4 percent.

At the bottom are clothing giant H&M, down 2.5 percent, as well as forestry company SCA and heat pump manufacturer Nibe, both of which ended the day down 2.1 percent.

Academedia lost 6.1 percent after the independent school group reported and announced a changed dividend policy this morning.

On the continent, there are mixed bids. At the close in Stockholm, the Frankfurt Stock Exchange is clearly up, while the exchanges in Paris and the London Stock Exchange have fallen.

In the US, two of the three major indexes are up while the third has fallen.

Over the weekend, the OPEC+ cartel decided on a small increase in oil production starting in December. The oil price stabilized on Monday, with a barrel of North Sea oil (Brent) costing $65.2.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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