Astra Zeneca and Saab Boost Stockholm Stock Exchange Amid Modest Gains

The Stockholm stock exchange's broad OMXS index closed just above zero on Tuesday, among other things thanks to strong gains for Astra Zeneca and Saab.

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Astra Zeneca and Saab Boost Stockholm Stock Exchange Amid Modest Gains
Photo: Claudio Bresciani/TT

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OMXS, which at lunchtime was up 1 percent, dropped significantly during the last hours of trading and closed at a plus of 0.1 percent. The large-cap list OMXS30 rose 0.3 percent.

Pharmaceutical company Astra Zeneca acted as a locomotive after an interim report that showed increased profit and sales. The share rose 3.5 percent.

Defense company Saab rose 3.2 percent after unconfirmed reports of an upcoming collaboration with, among others, American Boeing on training aircraft for the United Kingdom.

Also, the share of private equity company EQT rose, up 2.5 percent, after reports from Nikkei Asia that the company plans to make a bid for the Japanese elevator and escalator manufacturer Fujitec. The deal is said to be worth the equivalent of 26 billion kronor.

Streaming service Spotify presented an interim report at lunchtime that did not meet expectations. The number of users increased, but the operating result was worse than expected. The share had, after two hours of trading on the New York Stock Exchange, fallen by almost 11 percent.

On the leading European stock exchanges in Frankfurt, London, and Paris, the arrows pointed upwards with index increases of around 1 percent.

With Tuesday's moderate rise, the Stockholm stock exchange has risen 3 percent since the turn of the year.

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

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