Stockholm Stock Exchange Dips but Closes Slightly Up

After having been more substantially on the plus side for large parts of the trading day, the Stockholm stock exchange fell downwards but the OMXS index still closed at a plus of 0.1 percent.

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Stockholm Stock Exchange Dips but Closes Slightly Up
Photo: Fredrik Sandberg/TT

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Index-heavy telecom manufacturer Ericsson was the first of the major companies to report interim results. The report, however, received a cool reception, with a decline that accelerated during the day and the stock closed at a loss of 7.7 percent.

This means that Ericsson has fallen 20.6 percent this year.

Despite Ericsson's setback, the majority of the most traded stocks on the OMXS30 list rose. The highest was reporting technology trading company Addtech, which surged 8.6 percent.

The biggest winner of the day was, however, research company Cantargia, which has entered into a global licensing agreement with a Japanese pharmaceutical company. The stock soared 255 percent.

E-commerce company Nelly was also among the winners after reporting a significant profit increase. The stock rose 26.4 percent.

Hotel chain Scandic initially fell after its interim report but recovered and ended up 1.5 percent.

Volvo Cars, which on Monday announced a write-down of 11.4 billion kronor in connection with import duties and launch delays, rose 2 percent.

During the day, the krona lost ground against the dollar, which now costs 9.71 kronor. A euro costs 11.27 kronor.

At the close in Stockholm, the stock exchanges in Frankfurt, London, and Paris were all down.

In New York, two of the three major indexes have risen.

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

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