Ericsson Gains Amid Stockholm Stock Exchange Dip

After a somewhat volatile trade, the Stockholm Stock Exchange's broad OMXS index fell by 0.2 percent on Thursday. But telecom giant Ericsson closed on a plus.

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Ericsson Gains Amid Stockholm Stock Exchange Dip
Photo: Magnus Lejhall/TT

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A small increase in the morning was replaced by a decline in conjunction with the futures market on the New York Stock Exchange pointing downwards. In connection with Wednesday's interest rate decision from the Federal Reserve, signals were given that further interest rate cuts could come from the central bank, which the market took note of and prices on Wall Street rose.

The day after, however, the outlook was more gloomy and the negative futures market infected the leading European markets. The leading European stock exchanges all closed on minus.

For the Stockholm Stock Exchange, Thursday's interest rate decision from the Swedish Central Bank did not have a greater effect either.

Among the losers, Volvo stood out, down 1.8 per cent, after the Norwegian bank DNB put a sell stamp on the truck manufacturer's share. Lock giant Assa Abloy fell 1.6 per cent.

Against the stream, Ericsson and cloud service company Sinch stood out, rising 1.6 and 1.3 per cent, respectively.

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

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