Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

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Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market
Photo: Claudio Bresciani/TT

The Stockholm stock exchange began the week's trading slightly upwards, with a downturn on Monday afternoon. The broad OMXS index closed at a plus of 0.2 percent.

The market tried to position itself ahead of what is expected to be an interest rate cut by the US central bank Federal Reserve on Wednesday. The stock exchanges on Wall Street opened upwards, but then Stockholm lost momentum and a clear increase earlier in the day weakened.

Among the most traded stocks in the OMXS30 index, the gaming company Evolution and the Wallenberg family's venture capital company EQT rose the most, up 4.0 and 3.6 percent respectively.

The worst in the OMXS30 was the pharmaceutical company Astra Zeneca, down 3.6 percent, and the industrial conglomerate Lifco, which lost 1.6 percent.

After the news that Skanska received a billion contract for a project in Charlottesville in the USA, the construction company's share rose 0.6 percent.

It was upwards on leading Asian stock exchanges during night trading. In Europe, the index movements were small on the Frankfurt and London stock exchanges, while the Paris stock exchange climbed approximately 1 percent.

The Stockholm stock exchange ended last week with a weak increase of 0.1 percent. With Monday's increase, this means a plus of 3.1 percent after the turn of the year.

The krona strengthened against both the dollar and the euro compared to the exchange rates on Friday. When the stock exchange closed, one dollar cost 9.28 kronor and one euro 10.91 kronor.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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