Stockholm Stock Exchange Sees Slight Gains Amid Market Uncertainty

The Stockholm stock exchange started upwards on a broad front on Tuesday, quickly fell to minus, and then regained and closed in a light green. At the close, the OMXS index was up 0.1 percent.

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Stockholm Stock Exchange Sees Slight Gains Amid Market Uncertainty
Photo: Claudio Bresciani/TT

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Among the most traded stocks in the OMXS30 index, the paper company Essity fell 1.1 percent, the telecom operator Tele2 declined 0.9 percent, and the mining group Boliden fell 0.9 percent.

Among the winners were the defense group Saab, up 2.2 percent, the industrial heavyweight Atlas Copco, up 1.3 percent, and the automation group ABB increased 1.3 percent.

The real estate company Pandox rose nearly 3 percent after reports of a multi-billion bid that has been placed on the Irish hotel chain Dalata. At the close, the increase was 1.4 percent.

On the leading European stock exchanges, the development was in line with Stockholm.

After a few hours of trading on Wall Street.

The market is characterized by uncertainty surrounding how trade conflicts between the Trump administration and the EU and China will develop.

A purchasing managers' index for the industry in China fell to 48.3 in May, compared to 50.4 the previous month.

Fresh inflation figures for May from Eurostat came in below expectations, but had limited market effects.

The krona has weakened by a few ören against both the euro and the dollar compared to Monday. One euro costs 10.94 kronor, while the dollar costs 9.61 kronor.

The global market price for crude oil is hovering around 66 dollars after the latest news of increased production from the oil cartel Opec over the weekend.

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

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