Stock Market and Gold Decline as Storytel Shares Surge

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Stock Market and Gold Decline as Storytel Shares Surge
Photo: Fredrik Sandberg/TT Johan Hallnäs/TT

The Stockholm stock exchange turned downward on a broad front, in line with major exchanges in Asia and Europe. The reporting companies Alfa Laval and Balder declined, while Storytel, on the other hand, surged after quarterly figures.

At the close on Tuesday, the OMXS index had fallen by 0.5 percent.

Industrial conglomerate Alfa Laval fell back 2.4 percent after a report where the company exceeded profit expectations, but order intake fell more than expected. Housing company Balder plummeted 3.2 percent after its quarterly report.

Reporting company Storytel, on the other hand, surged upwards by 18.2 percent.

Telecom company Ericsson rose to a plus of 2.5 percent after the afternoon's news of a multi-billion investment in Finnish industry colleague Nokia from American semiconductor giant Nvidia.

Among leading European stock exchanges, it is downwards in Paris and Frankfurt, while London is clearly increasing.

Wall Street closed upwards on a broad front on Monday, where the technology-heavy Nasdaq took off with 1.9 percent. After the opening on Tuesday, the upturn continues.

With Tuesday's decline, the Stockholm stock exchange has risen 8.2 percent since the turn of the year.

The krona is strengthened by a few öre against the dollar, which costs 9.36 kronor. But it falls back slightly against the euro, which is at 10.91 kronor.

Gold was in morning trading below 3,900 dollars per ounce (31.1 grams), 11 percent below the historic record for just over a week ago.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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