Oil Share Soared on Positive Stock Exchange

The Stockholm Stock Exchange rose on Friday for the second day in a row. An oil share stood out, while a profit warning lowered the IT retailer Dustin.

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Oil Share Soared on Positive Stock Exchange
Photo: Fredrik Sandberg/TT

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Thursday offered rises in both New York and Stockholm. During the night to Friday, the Hong Kong stock exchange rose while the Tokyo stock exchange fell.

In Stockholm, the rise continued, albeit at a slower pace. The broad OMXS index closed at plus 0.9 percent, in line with leading European stock exchanges.

Among the winners on the large-cap list, the real estate company SBB stood out, up 4.4 percent. The worst performers were the pharmaceutical giant Astra Zeneca and the cloud service company Sinch, down 1.7 percent. Several major banks also fell, with Handelsbanken falling the most, minus 1.4 percent.

Otherwise, the IT reseller Dustin plummeted nearly 15 percent after issuing a profit warning on Thursday evening. The real rocket of the day was the oil company Tethys Oil, which soared nearly 75 percent after receiving a bid from Australian Roc Oil.

The oil price rose during the night and continued to rise further. The gold price also reached new record levels.

The Stockholm stock exchange has risen 9.0 percent since the turn of the year. During the past week, the OMXS index increased by 1.6 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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