The Stock Exchange Started the Week Cheerfully

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The Stock Exchange Started the Week Cheerfully
Photo: Fredrik Sandberg/TT

The Stockholm Stock Exchange started the trading week upwards. At closing, the OMXS index was up 1.1 percent. This after having opened downwards.

The rise was broad, with a price increase for 27 of 30 shares among the most traded shares in the OMXS30 index.

The heaviest weights to rise the most were industrial conglomerate Alfa Laval and heating technology company Nibe Industrier, 2.8 and 2.7 percent, respectively.

Defense company Saab also performed well, up 1.3 percent.

Assa Abloy's share rose 1 percent after the announcement that the lock giant is buying American Premier Steel Doors & Frames, a manufacturer of metal doors and windows. The acquisition is expected to contribute positively to the company's earnings per share, according to a press release.

Billerud went against the trend of the stock market and started strongly upwards, but fell to minus after the paper and packaging company presented new financial targets and an investment program in North America at a capital market day. The share closed unchanged.

The Paris stock exchange fluctuated during the day. Different bids regarding Marine Le Pen – the front figure of the French far-right party National Rally (RN) – being prepared to bring down the French minority government this week lay behind.

At the close in Stockholm, Paris was down, while Frankfurt and London had risen.

On Wall Street, two out of three major indices were up. Leading Asian stock exchanges had risen during the night's trading after an unexpectedly strong Chinese purchasing managers' index.

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

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