Stockholm Stock Exchange Drops 2.2 Percent Amid Broad Decline

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Stockholm Stock Exchange Drops 2.2 Percent Amid Broad Decline
Photo: Claudio Bresciani/TT

After a quiet start on Tuesday, the Stockholm stock exchange turned sour and closed at a minus of 2.2 percent. Among the large companies on the OMXS30 index, it was only the pharmaceutical giant Astra Zeneca that did not lose.

Among the losers are the truck manufacturer Volvo, the measurement technology company Hexagon and the heat pump manufacturer Nibe, all down just over 3.2 percent.

The online casino company Evolution fell 2.9 percent after having been down 4.5 percent earlier in the day. This after the company's games were removed from the casino site Stake.us as a result of last week's announcement that an American prosecutor has sued Evolution, along with several other companies, for alleged illegal gaming activities. The stock has fallen over 7 percent since the announcement.

Astra Zeneca was the only major company to avoid red numbers and closed unchanged. Another pharmaceutical company, Bioarctic, went against the trend and rose 2.6 percent after a raised target price from Goldman Sachs, writes Dagens industri. The stock is up around 35 percent in a week.

Also among the leading stock exchanges in Europe, there were red numbers. Frankfurt fell 2.2 percent, while London and Paris closed at minus 0.8.

On Tuesday, Klarna announced that the company will be listed on the New York Stock Exchange at a valuation of up to 128 billion kronor. The date for the listing has not yet been specified.

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