Stockholm Stock Exchange Drops 1.7 Percent Amid US Job Report Impact

American job figures lowered the mood on the Stockholm stock exchange. The broad OMX index fell 1.7 percent.

» Published: August 01 2025 at 07:22

Stockholm Stock Exchange Drops 1.7 Percent Amid US Job Report Impact
Photo: Claudio Bresciani/TT

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On the large company list OMXS30, 28 out of 30 companies declined.

Against the trend, the telecom companies Tele2 and Telia rose 0.8 and 0.6 percent, respectively.

The worst performance was from clothing giant H&M, which lost 3.0 percent after a sell rating from the major bank Berenberg. Other companies that struggled included, for example, Atlas Copco and ABB, which both declined 2.9 percent.

The pharmaceutical company Astra Zeneca fell 2.7 percent. The entire pharmaceutical sector was weighed down after the US President Donald Trump demanded lower drug prices in the US. In Copenhagen, Novo Nordisk recovered some of the loss and closed at a final 1.8 percent minus.

The leading European stock exchanges also declined on Friday. The Frankfurt stock exchange and the Paris stock exchange both fell by more than 2 percent, while the London stock exchange was down 0.7 percent late in the afternoon.

Wall Street opened downward. The stock market mood was sour throughout Friday after the US President Donald Trump, with just hours left until the deadline, announced new tariffs and extended the tariff pause. Additionally, today's job figures from the US came in clearly lower than expected, while previous monthly figures were revised downward sharply.

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