Stockholm Stock Exchange Closes Down 0.5 Percent

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Stockholm Stock Exchange Closes Down 0.5 Percent
Photo: Fredrik Sandberg/TT

The Stockholm stock exchange started the first day of the trading week with a weak upturn, but turned and at the close the broad OMXS index had fallen 0,5 percent.

Pharmaceutical company Astra Zeneca retained its leading position on the large-cap list OMXS30 in the morning and rose 1.7 percent. Teleoperator Tele2 and major bank SEB sprinted in to the other podium positions with increases of 1 and 0.7 percent respectively.

Defense company Saab recovered somewhat after the morning's downturn of 3 percent and closed at a loss of 1 percent. This development is in line with other European defense companies that are falling ahead of Donald Trump's and Vladimir Putin's meeting on Ukraine in Alaska on Friday.

The worst among the most traded shares was heat pump company Nibe, down 3.5 percent. Industrial company Sandvik lost 2.4 percent and industry colleague Atlas Copco 1.6 percent.

At the close in Stockholm, the development was different on the major European stock exchanges. Frankfurt and Paris had fallen back while London was up.

Wall Street has moved cautiously in anticipation of important inflation indicators being released later in the week.

Chip giants Nvidia and AMD initially fell after night-time media reports that the companies will pay 15 percent of their revenue in China to the US government in exchange for export licenses.

After a period of trading, the prices had however turned and were up.

A dollar costs 9.65 kronor while a euro costs 11.20 kronor.

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

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