Stockholm Stock Exchange Falls 0.8% Amid Volatile Trading

The Stockholm stock exchange fluctuated up and down during Wednesday but in the end the broad OMXS-index closed at a minus of 0.8 percent.

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Stockholm Stock Exchange Falls 0.8% Amid Volatile Trading
Photo: Claudio Bresciani/TT

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An initial decline is erased to the areas around zero after strong quarterly reports from the banking sector in the USA.

But then Stockholm lost its breath again, and during the late afternoon at a rapid pace.

For the Swedish part, it was a much more mixed bag among the major banks. Handelsbanken was one of the day's biggest losers with a price drop of 9.1 percent after a weaker report than expected. SEB delivered better results in turn but turned downward to close at minus 1.1 percent.

Swedbank was also pulled down and retreated 2.4 percent. Thus, Nordea was the only one of the four major banks to keep its head above water, plus 0.3 percent.

The third major company to report today, Sandvik, lifted instead. The engineering company announced, among other things, a strong order intake. The share closed at plus 2.4 percent.

Among today's other winners, the telecom equipment manufacturer Ericsson is noted, which after yesterday's price drop of 7.7 percent recovered and went up 1 percent.

At the close in Stockholm, the major European exchanges pointed in different directions. Frankfurt and London fluctuated around zero while Paris retreated. On Wall Street in New York, all three major indexes were clearly minus.

The krona strengthened against the dollar, which now costs 9.66 kronor. One euro costs 11.31 kronor.

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

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