Ericsson Leads Stockholm Stock Exchange with 7.9% Surge

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Ericsson Leads Stockholm Stock Exchange with 7.9% Surge
Photo: Claudio Bresciani/TT

After a hesitant opening, the Stockholm Stock Exchange continued upwards and closed clearly on the plus side. The broad OMXS index rose by 2.2 percent with reporting Ericsson as the day's rocket.

The telecom giant Ericsson, which exceeded expectations with a wide margin in the first quarter, surged 10 percent in early trading but landed at 7.9 percent at the close of the stock exchange.

Ericsson had company in the green territory from all companies on the OMXS30, where notable mentions were the air heat pump manufacturer Nibe trading at plus 4.4 percent, Saab up 3.8 percent, and the cloud service company Sinch climbing 3.7 percent.

The leading stock exchanges in Europe also pointed upwards. During Tuesday morning's trading, the CAC40 index in Paris fell back after yesterday's weak half-year report from the French luxury conglomerate LVMH, which initially fell heavily and dragged several other companies in the luxury segment with it. In the afternoon, the trend reversed and closed at plus 0.9 percent.

The New York stock exchange began Tuesday's trading with small movements. At the close of the Stockholm stock exchange, the S&P500 stands at plus 0.4 percent and Nasdaq is trading at plus 0.4 percent. The Dow Jones is up 0.2 percent.

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

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