Stock market pushed into the red

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Stock market pushed into the red
Photo: Pontus Lundahl/TT

The Stockholm Stock Exchange was pushed into the red during morning trading. Shortly after 1 p.m., the OMXS index was down 0.5 percent. Leading European exchanges were also below zero, and the same trend was visible in Wall Street futures.

The major banks are performing strongly, up 1.7 and 1.0 percent respectively for Handelsbanken and Nordea.

But the major trend among the most traded stocks in the OMXS30 index is downward. Industrial groups Lifco and Nibe Industrier are down 2.2 and 2.3 percent, respectively.

Scania owner Traton's shares are down 2.2 percent after Morgan Stanley analyst Shaqeal Kirunda lowered his recommendation. Kirunda warns of headwinds due to a costly investment in China and tariff effects - while the boost from major investments in infrastructure and defense in Europe is not expected to contribute positively until 2027.

During overnight trading, the Tokyo Stock Exchange rose sharply after market speculation about a new Japanese election gained momentum - which, based on the state of public opinion, could strengthen Prime Minister Sanae Takaichi's mandate.

The dollar trades at 9.18 kronor, a few cents above its year low, and the price of gold is about $20 below the historic peak of $4,600 per ounce.

Oil prices are rising slightly after US President Donald Trump threatened 25 percent tariffs on all countries that do business with Iran.

JPMorgan Chase & Co. is up in futures trading after the banking giant kicked off the reporting season on Wall Street.

The Stockholm Stock Exchange, where the reporting season does not begin in earnest until next week, moved sideways on Monday and, with Tuesday's decline, has reduced the rise since the turn of the year to 2.0 percent.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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