Volvo Leads Stockholm Stock Exchange as OMXS Index Rises

The Stockholm stock exchange rose on Thursday with truck manufacturer Volvo as the locomotive. The broad OMXS index lifted 1.1 percent.

» Published:

Volvo Leads Stockholm Stock Exchange as OMXS Index Rises
Photo: Claudio Bresciani/TT

Share this article

For the second day in a row, Volvo topped the large company list OMXS30 with an increase of 2.8 percent, followed by the forest company SCA, which rose 2.6 percent.

At the bottom of OMXS30 was the defense equipment manufacturer Saab, down 3.5 percent, after the German competitor Rheinmetall presented a report that did not meet expectations. Rheinmetall's share fell over 7 percent on an otherwise rising Frankfurt stock exchange.

The telecom companies also had a bad day: Telia lost 2.3 percent and Tele2 1.5 percent.

In Copenhagen, the pharmaceutical giant Novo Nordisk pulled up the index after the American competitor Eli Lilly came up with weak study results. The Copenhagen stock exchange rose 3.9 percent while Novo Nordisk rose 6.7 percent.

Leading European stock exchanges rose with the exception of the index in London, which fell by about 0.5 percent.

Inflation in Sweden rose in July and is now at 3.0 percent in annual terms, according to Thursday's preliminary figures from the Statistical Central Bureau. It was slightly less than analysts had expected, but it was the highest figure in 18 months and clearly above the Swedish Central Bank's inflation target of 2 percent.

On the currency market, the krona strengthened against both the dollar and the euro. One dollar cost 9.60 kronor at the close of trading and one euro 11.17 kronor.

Tags

Author

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

More news

NHTSA Investigates 174,000 Tesla Cars Over Door Handle Issues

NHTSA Investigates 174,000 Tesla Cars Over Door Handle Issues

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Swedish Households Shift from Borrowing to Diverse Savings Strategies

Swedish Households Shift from Borrowing to Diverse Savings Strategies

German Investor Confidence Surges Unexpectedly in September

German Investor Confidence Surges Unexpectedly in September

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

H&M Stock Rises Amid Stockholm Market Decline

H&M Stock Rises Amid Stockholm Market Decline

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Weakening Dollar: Key Considerations for Investors

Weakening Dollar: Key Considerations for Investors

Asian Stock Markets Rise Following Trump's Trade Talks Update

Asian Stock Markets Rise Following Trump's Trade Talks Update

Court Rules Fed Member Lisa Cook Can Stay Amid Trump's Challenge

Court Rules Fed Member Lisa Cook Can Stay Amid Trump's Challenge

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market