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Ericsson surged – Atlas Copco plummeted

The Stockholm stock exchange fluctuated around zero for a large part of Tuesday. However, many prices fell back during the last hour of trading, and the broad OMXS index closed at minus 0.5 percent.

» Updated: 15 October 2024, 17:44

» Published: 15 October 2024

Ericsson surged – Atlas Copco plummeted
Photo: Oscar Olsson/TT

Telecom equipment manufacturer Ericsson, which reported an unexpectedly strong quarterly report in the morning, surged 10.8 percent. Other winners were telecom company Tele2, up 2.6 percent, and index-heavy fashion giant H&M, which rose 0.9 percent.

Several industrial giants fell, particularly Atlas Copco, which is a supplier to the semiconductor sector. The stock fell 5.0 percent in the last hour of trading after news that the US may block exports of Nvidia chips to certain countries.

The worst performer in the OMXS30 index of the most traded stocks was real estate company SBB, which plummeted 8.1 percent.

The price of North Sea oil fell to around $73.50 per barrel after the Washington Post reported that Israel does not plan to attack Iran's oil reserves.

The krona strengthened slightly against the dollar and euro, which cost 10.38 and 11.32 kronor, respectively, at the close of the market.

On the leading European stock exchanges, the trend was mixed. The London and Frankfurt exchanges rose slightly, while the Paris exchange fell by about one percent.

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By TTThis article has been altered and translated by Sweden Herald

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