Astra Zeneca and SSAB Lead Gains on Stockholm Stock Exchange

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Astra Zeneca and SSAB Lead Gains on Stockholm Stock Exchange
Photo: Fredrik Sandberg/TT

The Stockholm stock exchange's broad OMXS index rose 0.4 percent on Wednesday, among other things thanks to strong gains in Astra Zeneca and SSAB.

The announcement that parts of the US government apparatus were shut down had no negative effect on the leading European markets. The Stockholm stock exchange turned up instead with one of the giants, Astra Zeneca, in the lead.

The pharmaceutical company surged 10.4 percent. Competitor Pfizer rose clearly on the New York stock exchange the day before after the company reached an agreement with the Trump administration to lower medicine prices.

Another winner was the steel manufacturer SSAB, up 9.0 percent, after reports that the EU Commission plans to raise import duties on foreign steel.

The gaming company Embracer rose 4.3 percent as a result of the company's largest owner and chairman of the board Lars Wingefors buying shares for just over 100 million kronor in the company.

Among today's losers were the defense group Saab and the telecom operator Telia, which lost 1.8 and 1.5 percent, respectively.

Skistar presented a year-end report in the morning where the ski resort company, among other things, proposed increased dividends to shareholders. At the same time, Skistar announced a certain decline in the number of bookings for the winter compared to the previous year. The share fell 4.8 percent.

The leading European stock exchanges rose. Indices in Frankfurt, London, and Paris all rose by around 1 percent.

In the currency market, the krona strengthened against both the euro and the dollar. One euro cost 11.00 kronor and one dollar 9.38 kronor at the close of the stock exchange.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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