Major Banks Winners on Volatile Stock Market

The Stockholm stock exchange turned sharply downward on Friday afternoon and the broad OMXS index closed at minus 0.3 percent.

» Published: February 21 2025

Major Banks Winners on Volatile Stock Market
Photo: Jakob Åkersten Brodén/TT

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The trends were initially positive and the index was up as much as 0.6 percent. What caused the sudden downturn at 2 pm was unclear.

The worst performers among the heavyweights in the OMXS30 index were the real estate company SBB and the network casino company Evolution, which fell 2.8 and 1.3 percent, respectively.

Among others, the major banks trended upwards; Handelsbanken rose 2.2 percent and Nordea gained 1.3 percent. Another clear winner was the medical technology company Getinge, up 1.7 percent.

The krona strengthened against the euro but weakened against the dollar on the currency market. One euro cost 11.12 kronor and one dollar 10.64 kronor at the close of the exchange.

On the leading European stock exchanges, the trend was mixed with relatively small index movements. The CAC 40 in Paris rose by a few tenths of a percent, while the FTSE 100 in London and the DAX in Frankfurt moved in the opposite direction.

Over the past week, the Stockholm stock exchange fell 0.8 percent, but the OMXS index has still risen 8.9 percent since the turn of the year.

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

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