Stockholm Stock Exchange Closes Slightly Up After Late Rally

The Stockholm stock exchange fell during most of Monday's transactions – but rose towards the end and at closing, the broad OMXS index landed at plus 0.1 percent.

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Stockholm Stock Exchange Closes Slightly Up After Late Rally
Photo: Stina Stjernkvist/TT

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Most among the stock exchange's heavyweights declined, with the heat pump company Nibe down 2.4 percent, investment company Kinnevik losing 2.0 percent, and clothing giant H&M falling 1.2 percent.

Against the trend was defence conglomerate Saab, up 2.3 percent, and Handelsbanken, which rose 1.4 percent.

Outside the large-cap list, the big loser was construction and installation company Bravida, following new fraud allegations, this time from Örnsköldsvik Municipality, plummeting 12.2 percent.

The trend was similar on the larger European stock exchanges.

In the USA, the exchanges closed on a plus on Friday, before credit rating agency Moody's downgraded the USA's credit rating. In the initial trading on Monday, the futures market on Wall Street points downwards. The long-term American market interest rates have increased, and the dollar has weakened as a result of the lower rating, which fundamentally concerns the growing debt mountain in the USA.

Most stock exchanges also fell slightly in tonight's Asian trading.

At the close of the stock exchange, one dollar cost 9.67 kronor and one euro 10.88 kronor.

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

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