SKF and Kinnevik Lead Gains in a Declining Stockholm Stock Market

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SKF and Kinnevik Lead Gains in a Declining Stockholm Stock Market
Photo: Tomas Oneborg/SvD/TT

The Stockholm Stock Exchange started the week's trading with a slight decline of 0.1 percent. Clear winners were, however, the investment company Kinnevik and the bearing giant SKF.

The broad OMXS index was on the plus side for most of Monday, but fell during the last two hours.

Kinnevik topped the OMXS30 list of most traded shares, up 3.4 percent, followed by SKF, which rose 1.9 percent after a new buy recommendation from Danske Bank.

The major banks SEB and Swedbank, both of which will release quarterly reports on Tuesday morning, rose 0.7 and 0.5 percent, respectively.

In the opposite direction, the real estate company SBB stood out, falling 1.9 percent.

Outside OMXS30, the truck manufacturer Traton was notable, surging 5.8 percent after morning's quarterly reports. The e-commerce company Boozt simultaneously rose 2.9 percent after announcing a share buyback program. The medical technology company Bonesupport fell 5.8 percent after the company's CEO announced that he would be leaving his post.

After Monday's decline, the OMXS index has fallen 3.2 percent since the turn of the year.

On the leading European stock exchanges, the tone was largely positive, but indices in Frankfurt, London, and Paris also fell in the final trading hours and closed near zero.

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

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