The Stockholm Stock Exchange closed the week on a bright note

The Stockholm Stock Exchange ended the week with an upward trend. At closing, the broad OMXS index had risen by 1 percent.

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The Stockholm Stock Exchange closed the week on a bright note
Photo: Fredrik Sandberg/TT

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After a weak start to the trading week, the Stockholm Stock Exchange has thus recovered somewhat, but is down 0.1 percent for the week as a whole.

Today's rise is in line with the situation in Europe. Following weak November statistics regarding the purchasing managers' index for the euro area, the market has increasingly leaned towards a double interest rate cut from the European Central Bank (ECB) at the next meeting. The assessment is now that there is a 50 percent chance of a 0.5 percentage point cut.

The euro is losing value against the dollar, but also against the Swedish krona.

Interest-rate sensitive companies are among the winners on the Stockholm Stock Exchange. The real estate company SBB and the heat pump manufacturer Nibe both rose 1.9 percent.

Pharmaceutical giant Astra Zeneca also performed strongly, up 3.4 percent. The stock had previously fallen sharply earlier in the week in connection with an investigation in China.

The banking sector, not unexpectedly, fell in connection with the interest rate development. Nordea and Swedbank fell 0.9 percent, and SEB 0.7 percent.

Defense conglomerate Saab fell 1.4 percent. However, the stock has risen in recent days in connection with the escalation of the Ukraine war.

Even on the major European stock exchanges, there were largely smiling faces. At the close in Stockholm, Frankfurt, London, and Paris were all clearly up.

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

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