Stockholm Stock Exchange Ends Week Down Amid Atlas Copco Report

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Stockholm Stock Exchange Ends Week Down Amid Atlas Copco Report
Photo: Fredrik Sandberg/TT

The Stockholm stock exchange ended the trading week on the red side of zero. The industrial giant Atlas Copco's interim report weighed down the market.

At the close, the broad OMXS index was down 0.7 percent after a volatile trade in connection with a report-intensive morning.

Initially, the Stockholm Stock Exchange rose, but the report from Atlas Copco – one of the stock market's largest companies – during the afternoon made the OMXS index turn down.

The share fell 7.8 percent due to, among other things, worse order intake than expected. The industrial giant is not alone in falling sharply. The spin-off from Atlas Copco, the mining equipment company Epiroc, was even worse and fell 9.2 percent, the worst on the OMXS30 list.

However, some companies were rewarded with sharp price increases after the morning's reports.

Defense group Saab was the big winner of the day. The price increase of 16.4 percent means that the share reached a new high level. Telia, which announced a billion-dollar purchase of the company Bredband2 in connection with the interim report, rose 4.8 percent. Bearing manufacturer SKF, which will cut down within the company, rose 2.3 percent at the same time.

Outside the OMXS30 list, sharp falls are noted for appliance manufacturer Electrolux and Betsson at 14.3 and 16 percent, respectively.

In the currency market, the US dollar falls against the Swedish krona, which means that one dollar costs 9.65 kronor.

The leading European stock exchanges also fluctuated around zero at the close. A similar development is seen on Wall Street after a few hours of trading.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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