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Mining Company Winner on Calm Stock Exchange

The Stockholm stock exchange fluctuated around the zero line on the first day of the trading week. The broad OMXS index closed at plus 0.1 percent. But the mining company Lucara surged after a new diamond find.

» Updated: 27 September 2024, 01:52

» Published: 16 September 2024

Mining Company Winner on Calm Stock Exchange
Photo: Fredrik Sandberg/TT

Among the most traded stocks in the OMXS30 index, the index-heavy clothing giant H&M and mobile operator Tele2 performed best, up 3.1 and 1.7 percent, respectively.

In the other scale, real estate company SBB and measurement technology conglomerate Hexagon were found, which lost 2.0 and 1.6 percent, respectively.

Outside OMXS30, Lucara Diamond surged over 12 percent after a new "extraordinary" diamond find in a mine in Botswana – the second in a short time.

On the leading European stock exchanges, index movements were cautious with ups or downs of a few tenths of a percent.

The market was tense ahead of the interest rate decision from the US central bank Federal Reserve (Fed) on Wednesday, when the bank is expected to lower interest rates and possibly provide clearer signals about how many more rate cuts can be expected. There are also some who speculate about a so-called double cut from the Fed of 0.50 percentage points instead of 0.25 percentage points.

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By TTThis article has been altered and translated by Sweden Herald

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