SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Downward trend on the stock market – Kinnevik weighed

The Stockholm stock exchange fell slightly on Wednesday. The broad OMXS index closed 0.1 percent minus.

» Published: 16 October 2024

Downward trend on the stock market – Kinnevik weighed
Photo: Anders Wiklund/TT

The OMXS30 index, which includes the most traded shares, was weighed down by investment company Kinnevik, which lost 8.4 percent after a quarterly report in the morning.

Forest company SCA fell 1.8 percent.

Among the most traded companies, household appliance giant Electrolux topped the list, rising 2.4 percent. Online casino operator Evolution and pharmaceutical company Astra Zeneca also performed strongly, with their shares rising 2.1 and 2.0 percent, respectively.

On Tuesday, Dutch chipmaker ASML released its report ahead of schedule. The figures were a disappointment and have once again created concern among investors for both the chip industry and AI.

According to Bloomberg, the company has lost nearly 60 billion euros in market value over the past few days, equivalent to around 682 billion kronor.

Luxury conglomerate LVMH, listed on the Paris Stock Exchange, also delivered disappointing figures after the market closed on Tuesday. The company fell around 4 percent on Wednesday.

The trend on the leading European stock exchanges was mixed. The London Stock Exchange rose about 1 percent, while Frankfurt and Paris fell a few tenths.

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

More news

Tough times for coffee roasters – costs nearly double
1 MIN READ

Tough times for coffee roasters – costs nearly double

Lufthansa's Purchase of Italian Ita Airways is Complete
1 MIN READ

Lufthansa's Purchase of Italian Ita Airways is Complete

AI can take over jobs – but no concern in Sweden
2 MIN READ

AI can take over jobs – but no concern in Sweden

Tiktok ready to shut down in the USA – sparks concern
2 MIN READ

Tiktok ready to shut down in the USA – sparks concern

Technology stocks drive the market on a cheerful New York stock exchange
2 MIN READ

Technology stocks drive the market on a cheerful New York stock exchange

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