Stockholm Stock Exchange Surges 1.5 Percent Amid Strong Company Reports

The Stockholm stock exchange's broad OMXS index climbed 1.5 percent on Thursday. The price reactions were strong among several reporting companies.

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Stockholm Stock Exchange Surges 1.5 Percent Amid Strong Company Reports
Photo: Fredrik Sandberg/TT

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The reporting period's most intense news day brought significant increases – and some declines for the companies in question.

Several companies surged after the quarterly figures. The telecom company Tele2 rose 7.7 percent after raising its profit forecast, while the online casino operator Evolution went up 8.1 percent after positively surprising in terms of its operations in North America and Asia.

Also, the lock giant Assa Abloy got a thumbs up for its report and rose 5.9 percent. But the best of the most traded shares was the automation company ABB, up 9.6 percent.

One of the stock market's absolute heavyweights, the truck manufacturer AB Volvo, fell 1.9 percent, on the other hand.

The major bank Nordea lost 2.7 percent, while the biggest loser among the most traded was the hygiene company Essity, after a profit miss. The share fell 4.5 percent.

Outside the list of major companies, a significant increase can be seen for Volvo Cars, which has been weak on the Stockholm stock market for a long time. The share rose 7.9 percent. But since the turn of the year, it has fallen 20.1 percent.

The krona lost ground against both the dollar and the euro during the day. They now cost 9.75 and 11.31 kronor, respectively.

At the close in Stockholm, the larger stock exchanges in Europe – in Frankfurt, London, and Paris – had also risen significantly. The stock market sentiment was also upbeat in New York.

With Thursday's increase, the Stockholm stock market has risen 2.2 percent so far this year.

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

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