The stock market day is the second best on the Stockholm stock exchange this year, writes Omni.
Among the most traded shares in the OMXS30 index, the white goods giant Electrolux performed best, up 8.6 percent. Also, the engineering companies Atlas Copco, SKF and Sandvik performed strongly, up 7.1, 6.5 and 5.7 percent respectively.
The defense group Saab, in good company by Europe's other defense companies, fell 3.6 percent over the weekend following reports of potential upcoming talks between Russia and Ukraine.
Pharmaceutical news
The Swedish-British pharmaceutical giant Astra Zeneca plummeted over 5 percent in opening trading following promises from US President Donald Trump of drastically reduced pharmaceutical prices in the US. The share, however, recovered, as did others in the sector, and closed at a plus of 0.9 percent.
Behind the stock market turmoil lies the news from the US and China that the trade war between the countries will be put on hold for 90 days and that existing tariffs will be reduced during that time.
Even the leading European stock exchanges are rising. Frankfurt closed slightly up, 0.1 percent, London and Paris rose 0.5 and 1.3 percent respectively.
Gold price falls
There is also a sense of relief in New York. The S&P 500 index was shortly after opening up 2.9 percent. The Dow Jones industrial index opened at a plus of 2.5 percent and the technology-heavy Nasdaq composite index surged 3.8 percent.
The dollar has strengthened against most currencies, including the Swedish, following the news of the paused trade war. One dollar costs at closing 9.81 kronor.
The price of gold, which has risen steadily since Trump began his trade war at the beginning of April, is moving in the opposite direction and falls. An ounce (31.1 grams) of gold costs 3,240 dollars.
