Telecom Stocks Defy Market Slump on Stockholm Exchange

The Stockholm Stock Exchange fell broadly on the last day of the trading week. The OMXS index decreased by 1.4 percent.

» Published: March 21 2025

Telecom Stocks Defy Market Slump on Stockholm Exchange
Photo: Jonas Ekströmer/TT

Weak company reports from, among others, the freight company Fedex and the sports giant Nike, dragged down the mood when it comes to futures trading on the New York stock exchange.

This also affected the Stockholm stock exchange, whose decline was reinforced during the day. In the OMXS30 index of the most traded shares, only the two telecom companies Tele2 and Telia closed on a plus, up 3.5 and 1.2 percent, respectively.

The American major bank JP Morgan raised its recommendation for the Tele2 share. The target price was set at 156 kronor, which would mean a lift of 20 percent from the current level.

Among the losers, the major bank Nordea was noted, which fell 7.0 percent, although linked to the fact that the share was traded without the right to dividend on Friday. The forest company SCA also fell sharply, down 4.3 percent.

Alfa Laval backed down 0.4 percent after the news that the engineering company had acquired a French company in a deal worth approximately 8.8 billion kronor.

Boliden announced on Thursday evening that the mining company is making a so-called targeted new issue to finance, among other things, the purchase of a zinc mine. The share fell moderately, down 1.1 percent.

Among other company news, it was noted that Astra Zeneca announced that the pharmaceutical giant will invest 25 billion kronor in a new research center in Beijing. The share fell 1.9 percent.

The leading European stock exchanges also fell. The indexes in Frankfurt, London, and Paris all backed down by approximately 0.5 percent.

Counted over the entire past week, the Stockholm stock exchange rose 0.3 percent.

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By TT - Translated and adapted by Sweden Herald under license from TT

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