Stockholm Stock Market Rises for Third Consecutive Day

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Stockholm Stock Market Rises for Third Consecutive Day
Photo: Claudio Bresciani/TT

The Stockholm stock exchange ended the trading week by rising for the third day in a row. The broad OMXS index rose 0.8 percent.

After a clear decline on Tuesday, OMXS has recovered, but calculated over the entire past week, the Stockholm stock exchange fell by 1.0 percent.

The large-cap index OMXS30, which rose 0.7 percent, was topped by Hexagon which late on Thursday evening announced that the measurement technology company is selling parts of the business for 30 billion kronor. The share surged 7.4 percent.

The share in the defense equipment manufacturer Saab, a major loser on Thursday, recovered somewhat and rose 1.7 percent. Before the stock market opening, the company reported that it had received an order for 550 million kronor from an unspecified country in Latin America. The purchase concerns a radar system.

Among the day's major losers was the pharmaceutical company Bioarctic, which plummeted 7.8 percent after the bank Nordea gave the share a sell stamp.

Leading European stock exchanges fell. In London, the decline was marginal, while the index in Frankfurt lost nearly 1 percent.

In the currency market, the krona strengthened against both the euro and the dollar, which cost 9.36 kronor when the stock exchange closed. The euro exchange rate fell to 10.99 kronor.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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