Stockholm Stock Exchange Rises as Trump Extends EU Tariff Pause

The Stockholm stock exchange started the trading week stable upwards after Sunday evening's late message from Donald Trump that he is not shortening his tariff pause towards the EU.

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Stockholm Stock Exchange Rises as Trump Extends EU Tariff Pause
Photo: Claudio Bresciani/TT

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The broad OMXS index closed up 1.5 percent. In OMXS30, which lists the most traded stocks, all companies rose.

The best performers were the property company SBB and the investment company Kinnevik, up 4.6 and 2.7 percent, respectively. A clear winner was also the appliance giant Electrolux, which rose 2.5 percent.

On Friday, Trump threatened to impose 50-percent tariffs on goods from the EU as of June 1. However, following a phone call on Sunday with EU Commission President Ursula von der Leyen, the American president announced that the tariff pause would remain in place until July 9.

The stock exchanges in both London and New York were closed on Monday. The fact that the New York stock exchange is closed usually means more subdued trading in Stockholm.

The leading European stock exchanges rose, with the Frankfurt stock exchange's DAX index up approximately 1.5 percent and the CAC40 index in Paris around 1 percent.

The exchange rate at the close of trading was 9.52 per dollar and 10.84 per euro.

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

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