SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Strong stock market upswing following lowered US interest rate

The risk appetite on the market seems to have gained new strength. The Stockholm Stock Exchange rose sharply and broadly following Wednesday's unexpectedly large interest rate cut by the US central bank Federal Reserve (Fed).

» Published: 19 September 2024

Strong stock market upswing following lowered US interest rate
Photo: Anders Wiklund/TT

The OMXS index rose 1.8 percent. The increase was broad with 28 out of 30 of the most traded stocks in the OMXS30 index on the plus side.

Among the heavyweights, interest-rate sensitive companies such as the real estate company SBB and the cloud service company Sinch, surged 12.6 and 5.0 percent, respectively.

Against the trend, Tele 2 and Telia fell 1.1 and 0.6 percent, respectively.

Among other companies, the electronics manufacturer Note stood out, whose share price plummeted 14.0 percent after a profit warning.

The leading European stock exchanges also rose in line with Stockholm. On Wall Street, prices had also risen significantly after a few hours of trading.

The krona immediately rose after the interest rate decision on Wednesday, up almost ten öre against the dollar. However, the Swedish currency fell back sharply during night trading.

After a slight recovery, the krona was back at 10.17 kronor at 17:30 on Tuesday.

The OMXS index has risen 11.1 percent since the turn of the year with Thursday's increase.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Nintendo reveals the successor to Switch
1 MIN READ

Nintendo reveals the successor to Switch

Unexpectedly weak retail sales in the USA
1 MIN READ

Unexpectedly weak retail sales in the USA

New - smaller model - to boost Polestar
1 MIN READ

New - smaller model - to boost Polestar

New strength signals from the US banking sector
2 MIN READ

New strength signals from the US banking sector

Court Approves Plantagen's Reconstruction
1 MIN READ

Court Approves Plantagen's Reconstruction

Hitachi invests in Piteå – 100 new jobs
1 MIN READ

Hitachi invests in Piteå – 100 new jobs

Increased Probability of Interest Rate Cut
1 MIN READ

Increased Probability of Interest Rate Cut

Mass Layoffs at Oil Giant
1 MIN READ

Mass Layoffs at Oil Giant

Northvolt gets reprieve from US court
2 MIN READ

Northvolt gets reprieve from US court

Proposals for new electricity areas delayed
1 MIN READ

Proposals for new electricity areas delayed

Luxury Rally on European Exchanges
1 MIN READ

Luxury Rally on European Exchanges

Slightly Higher Inflation Expectations
1 MIN READ

Slightly Higher Inflation Expectations

Unexpectedly weak growth in the UK
1 MIN READ

Unexpectedly weak growth in the UK

German Inflation Rise Confirmed
1 MIN READ

German Inflation Rise Confirmed

The stock market continues to rise
2 MIN READ

The stock market continues to rise

Unexpected Strong Profit Surge for Semiconductor Manufacturers
1 MIN READ

Unexpected Strong Profit Surge for Semiconductor Manufacturers

Increased Sales in the Daily Consumer Goods Trade
1 MIN READ

Increased Sales in the Daily Consumer Goods Trade

Electricians called to civil defence duty
2 MIN READ

Electricians called to civil defence duty

Sources: Biden wants to stop TikTok shutdown
2 MIN READ

Sources: Biden wants to stop TikTok shutdown

Hard to choose mortgage rate: "Unique small differences"
2 MIN READ

Hard to choose mortgage rate: "Unique small differences"