Stock Market Shows Weak Downward Trend as Rusta Reports Poor Earnings

The market is cautious ahead of this afternoon's inflation figures from the USA. The Stockholm stock exchange's OMXS index falls 0,3 percent in morning trading. The retail chain Rusta reports.

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Stock Market Shows Weak Downward Trend as Rusta Reports Poor Earnings
Photo: Claudio Bresciani/TT

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Among the most traded stocks in the OMXS30 index, EQT and Telia rise by 0.9 and 1.1 percent, respectively. But the declines in the engineering companies weigh heavier. Assa Abloy and Atlas Copco fall by 1.1 and 1.6 percent, respectively.

Prior to Thursday's stock market opening, the retail chain Rusta has reported quarterly figures. The stock is down about 7 percent after initially plummeting even more.

Leading European stock exchanges are simultaneously striving overall slightly upwards.

During the night's trading, it has been a mixed bag on leading Asian stock exchanges, up in Tokyo and Shanghai, but down in Hong Kong.

The S&P500 index ended Wednesday's trading with a weak increase, while the technology-heavy Nasdaq moved sideways – despite a historic rally for the software giant Oracle.

The market is waiting on Thursday for fresh inflation figures from the USA, which will be released at 14.30 Swedish time. Before that, the European Central Bank (ECB) will announce its interest rate decision at 14.15, where no changes are expected.

The krona is hovering around 9.36 kronor per dollar and 10.94 kronor per euro.

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

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