Stockholm Stock Exchange Falls 1.1 Percent as Saab Rises 5.5 Percent

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Stockholm Stock Exchange Falls 1.1 Percent as Saab Rises 5.5 Percent
Photo: Claudio Bresciani/TT

The Stockholm stock exchange fell on Wednesday. The broad OMXS index closed at minus 1.1 percent. Saab went – like other defense companies – against the trend.

Development on the leading stock exchanges in Europe was mixed, with increases in London and Frankfurt and a decline in Paris.

On the Stockholm stock exchange's large company list OMXS30, the defense group Saab acted as a locomotive with a plus of 5.5 percent. Other defense companies in Europe and Asia also saw their stock prices rise.

This comes after the US President Donald Trump said on Tuesday that Ukraine has the opportunity to take back all Russian-occupied land. Trump also urged NATO countries to shoot down Russian planes that violate their airspace.

The mining company Boliden rose 3.9 percent, after the American Freeport declared force majeure at its giant mine in Grasberg in Indonesia. Paused operations after a rockslide on September 8 will reduce the supply of copper. Lundin Mining surged 10.2 percent.

The decline in Stockholm was the air heat pump manufacturer Nibe, which fell back 6.1 percent, and the bearing manufacturer SKF, which sank 2.8 percent.

The initial trade on Wall Street held around zero.

Tuesday's gold rally, where an ounce of gold cost $3,789 at most, has subsided somewhat and an ounce of gold costs $3,747 on Wednesday afternoon.

A dollar costs 9.41 kronor and a euro costs 11.04 kronor.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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