Stockholm Stocks Fall 0.7% as
Photo: Pontus Lundahl/TT

Stockholm Stocks Fall 0.7% as Oil Prices Retreat From Their Highest Since May

The Stockholm Stock Exchange continued to fall on Tuesday, in line with other major European markets. The broad OMXS index closed down 0.7 percent.

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Before the stock market opened, automation group ABB and mobile operator Tele2 reported quarterly results. ABB also announced a major investment in a joint venture with Japan’s Mitsubishi Electric. ABB fell 4.9 percent, while Tele2 rose 1.5 percent.

Reporting Byggmax rose 11.6 percent at the same time.

Wall Street, which closed higher on Monday after broad declines last week, was also clearly up in early trading.

Oil prices fell back in the afternoon after touching their highest levels since May in early trading on Tuesday. A barrel of North Sea oil (Brent) now costs $107.9.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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