Major Banks Boost Stockholm Stock Exchange as European Markets Rise

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Major Banks Boost Stockholm Stock Exchange as European Markets Rise
Photo: Fredrik Sandberg/TT

The Stockholm stock exchange spent large parts of the day dancing around zero, but the broad OMXS index eventually picked up and closed at a plus of 0.3 percent. The four heavyweight banks had a good day.

On the OMXS30 index with the most traded shares, Swedbank rose 1.8 percent, Handelsbanken 1.3 percent, while Nordea and SEB both went up 1.2 percent.

At the other end, heat pump manufacturer Nibe fell 4.8 percent, property company SBB 1.9 percent, and pharmaceutical company Astra Zeneca 1.7 percent.

Also on the major stock exchanges in Europe, there were increases. At the close in Stockholm, Frankfurt, London, and Paris were all clearly on the plus side.

The krona strengthened during the day against both the dollar and the euro, only to fall back again. One dollar now costs 10.02 kronor and one euro 10.83.

Earlier in the day, the krona was at its strongest rate since 2022.

On Wall Street in New York, trading is volatile with movements up and down across the zero line. Late on Tuesday afternoon, two of the three major indexes were on minus.

President Donald Trump's media company Trump Media has risen 6 percent on reports of a planned collaboration with cryptocurrency company Crypto.com.

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

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