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Continued Rise on the Stock Market

The Stockholm stock exchange rose across the board and went up for the sixth consecutive day. The OMXS index had risen 0.9 percent by the close.

» Published: 04 December 2024

Continued Rise on the Stock Market
Photo: Fredrik Sandberg/TT

Among the big winners in the OMXS30 index – with the most traded shares – was the measurement technology company Hexagon, whose share rose 7.9 percent after Björn Rosengren was proposed to take over as chairman of the board.

AB Volvo, the truck manufacturer, also did well, up 2.2 percent after American industry statistics.

Volvo Cars also climbed, 4.2 percent, after the car manufacturer's monthly figures for November.

Before the stock market opening, the retail chain Clas Ohlson reported results for the broken fiscal year's second quarter, which were in line with expectations. The share rose 0.8 percent.

New York rises

The ventilation and fan manufacturer Systemair reported a 9.6 percent increase after an unexpectedly high profit in the latest quarter.

Wall Street closed the stock exchanges slightly up on Tuesday. This means another historic record high for the S&P500 index – for the 55th time this year. At the close in Stockholm, all three major indexes in New York had also risen on Wednesday.

The Frankfurt and Paris stock exchanges had also risen, while London was down.

Impeachment threat

The Asian trade overnight has been marked by the political turmoil in South Korea, where President Yoon Suk-Yeol – after backing down on a state of emergency on Tuesday – now risks being impeached.

The Seoul stock exchange – which has had a weak development since the summer and is down 7 percent since the turn of the year – remained open for trading despite the political turmoil. The Kospi index initially fell over 2 percent, but recovered to close on Wednesday at minus 1.4 percent.

With the stock market rise on Wednesday, the OMX index has risen 9.9 percent since the turn of the year.

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By TTThis article has been altered and translated by Sweden Herald

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