Volvo and Atlas Copco Lead Gains on Stockholm Stock Exchange

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Volvo and Atlas Copco Lead Gains on Stockholm Stock Exchange
Photo: Johan Hallnäs/TT

The Stockholm stock exchange rose on Thursday in line with most European stock exchanges. Among the winners were Volvo Cars and Atlas Copco.

The broad OMXS-index rose 0,9 percent and the large-cap list OMXS30 climbed 1,2 percent.

Among the heavyweights, the engineering company Atlas Copco took a big step, up 5,3 percent, after a general international boost in the technology sector where the company is a supplier to the semiconductor industry. Volvo Cars released new figures showing a slowed decline in car sales and the stock rose 6,6 percent.

Among the few stocks in OMXS30 that performed poorly were the major banks Swedbank, Handelsbanken, SEB and Nordea, which all closed on a minus. The worst performer was Evolution, down 1,4 percent, after reports that the online casino company had lost contracts in Asia.

Also on Wednesday, the Stockholm stock exchange rose – and in the US, new stock exchange records were noted. The shutdown of the US government since politicians have not been able to agree on the budget does not seem to disturb the stock traders.

The oil price has fallen clearly in recent days. A barrel of North Sea oil cost just over 64 dollars on Thursday.

In the currency market, the krona lost a few öre during afternoon trading. At the close of the stock exchange, one dollar cost 9,44 kronor and one euro 11,04 kronor.

Indexes on the stock exchanges in Frankfurt and Paris rose just over one percent, while the London stock exchange fell a few tenths of a percent.

The Stockholm stock exchange has now, from the turn of the year, risen 4,6 percent.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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