SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

The stock market rose for the third day in a row

The Stockholm stock exchange continued upwards on Thursday for the third day in a row. The broad OMXS index rose 0.7 percent.

» Published: 16 January 2025

The stock market rose for the third day in a row
Photo: Anders Wiklund/TT

Among the most traded stocks in the OMXS30 index, the telecom company Tele2 and the heat pump manufacturer Nibe performed the best, up 2.8 and 2.6 percent, respectively. Down in the OMXS30 were, among others, the bearing giant SKF, down 1.1 percent, and the real estate company SBB, down 0.9 percent.

The investment company Ratos rose 1.1 percent since Plantagen – part of the company's portfolio – had a reconstruction plan approved by the district court.

A slightly weaker retail sales figure than expected for December from the US caused no major waves on the market.

Risk appetite on the market around the world has received a boost after a report on Wednesday, which showed a slightly lower core inflation than expected in the US. This increases the likelihood of interest rate cuts from the US central bank Federal Reserve going forward.

A number of unexpectedly strong quarterly reports from financial giants such as Wells Fargo, JP Morgan, and Goldman Sachs also contributed to strengthening the stock market sentiment. And the reporting season in the US continued on Thursday with further evidence of strength from the banking sector in the form of reports from Bank of America and Morgan Stanley.

The European major stock exchanges also rose. The CAC index in Paris performed the best, up around 2 percent.

The Stockholm stock exchange – whose reporting season does not get underway in earnest until next week – rose 2.3 percent on Wednesday. This was also linked to the inflation figure and the strong bank reports from the US.

The OMX index has, including Thursday's rise, risen 3.2 percent since the turn of the year.

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

More news

EU updates Mexico agreement
1 MIN READ

EU updates Mexico agreement

Memorial Ceremony for PG Gyllenhammar
1 MIN READ

Memorial Ceremony for PG Gyllenhammar

Investigation expanded against X
1 MIN READ

Investigation expanded against X

Trump waits to enforce Tiktok ban
3 MIN READ

Trump waits to enforce Tiktok ban

Star Chef Tommy Myllymäki Loses Rental Dispute – Forced to Leave
1 MIN READ

Star Chef Tommy Myllymäki Loses Rental Dispute – Forced to Leave

Better than expected for Saab
1 MIN READ

Better than expected for Saab

Better than expected for Saab
1 MIN READ

Better than expected for Saab

Norwegian giant fund seeks next CEO
1 MIN READ

Norwegian giant fund seeks next CEO

Inflation rise in eurozone confirmed
1 MIN READ

Inflation rise in eurozone confirmed

Bankers to build European transfer system
1 MIN READ

Bankers to build European transfer system

Lower prices on gasoline and diesel
1 MIN READ

Lower prices on gasoline and diesel

NCC Rebuilds Oceana After the Fire
1 MIN READ

NCC Rebuilds Oceana After the Fire

Unexpected setback for British Christmas trade
1 MIN READ

Unexpected setback for British Christmas trade

Solid stock market rise in Stockholm
2 MIN READ

Solid stock market rise in Stockholm

You'll find the cheapest food here
2 MIN READ

You'll find the cheapest food here

China reaches growth target after strong final quarter
2 MIN READ

China reaches growth target after strong final quarter

Down in Japan – up in China
1 MIN READ

Down in Japan – up in China

Upward trend for China's economy
1 MIN READ

Upward trend for China's economy

Down on Wall Street
1 MIN READ

Down on Wall Street

Billion Fines for American Express
1 MIN READ

Billion Fines for American Express