Stock market up after strong reports

After Thursday's strong reports from, among others, Swedbank and Sandvik, the tones were positive on the Stockholm Stock Exchange. The broad OMXS index rose 1.2 percent.

» Published: January 23 2025

Stock market up after strong reports
Photo: Erik Simander/TT

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The lion's share of the companies in the OMXS30 index, which lists the most traded shares, rose. The best performer was the engineering company Sandvik, up 8.8 percent, after reporting a financial statement with increased profit and turnover.

Swedbank, whose report exceeded analysts' forecasts, gained 4.2 percent. The major bank also raised its dividend to shareholders, who will share 24.6 billion kronor.

The other major banks – Handelsbanken, Nordea, and SEB – followed suit and rose between 1.8 and 2.6 percent.

On the other hand, the hygiene company Essity and the investment company Investor, which also presented their financial statements, fell. Essity dropped 6.7 percent, while Investor lost 0.5 percent.

The leading European stock exchanges in Frankfurt, London, and Paris all closed on a plus.

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

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