Stockholm Stock Exchange Rises as Gold Hits Record High

The Stockholm Stock Exchange began the week's trading with rising price movements. The OMXS index rose 0.6 percent.

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Stockholm Stock Exchange Rises as Gold Hits Record High
Photo: Oscar Olsson/TT

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After having been closed for Easter, the Stockholm Stock Exchange has begun a shortened trading week.

An initial decline in the wake of the stock market decline on Wall Street on Monday evening was followed by the Stockholm Stock Exchange recovering. For the most traded stocks on the OMXS30 index, the development was mixed.

Today's big loser was the medical technology company Getinge, which fell 5.5 percent after, among other things, reporting a weaker order intake than expected.

Among others who performed poorly were the engineering company ABB and the measurement technology company Hexagon. They fell 3.2 and 1 percent, respectively.

Skistar fell

In the opposite direction, the real estate company SBB primarily rose, gaining 6.5 percent. The mining giant Boliden also performed strongly, rising 3.7 percent after receiving a higher purchase recommendation.

Among the smaller companies, a price decline of 1.7 percent was noted for Skistar. The company has announced that guests who have booked stays in, among other places, Sälen and Trysil will receive their money back due to the lack of snow.

The krona has strengthened significantly, since the dollar lost further on Monday. One dollar cost 9.48 kronor in the late afternoon, while the euro was quoted at 10.92 kronor.

Gold at a record

In the wake of the economic uncertainty, triggered by US President Donald Trump, investors are fleeing to the traditionally safe haven of the US financial markets. Gold is noting new record prices and was traded briefly above 3,500 dollars per ounce, before falling back. At 17:30, the price was 3,413 dollars per ounce.

The leading European stock exchanges also rose. The London Stock Exchange was in line with the Stockholm Stock Exchange, while the increases on the Frankfurt and Paris Stock Exchanges were slightly lower.

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

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