Bank shares weighed down the stock market

The Stockholm Stock Exchange fell on Thursday, weighed down by falling prices in the major banks. But the decline was broad.

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Bank shares weighed down the stock market
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The broad OMXS-index fell 0.9 percent. In the OMXS30-index, which lists the most traded shares, only two companies closed on a plus.

Against the trend, several forest shares rose after Stora Enso announced that it plans to sell large parts of its Swedish forest holdings. The share rose 3.9 percent, while its industry colleague SCA topped the OMXS30, up 1.5 percent.

Among the losers, the four major banks stood out, all of which fell. Swedbank fared the worst, falling 3.1 percent.

During the night's Asian trade, the Hong Kong stock exchange turned down after the recent days' price surge, while the Tokyo stock exchange rose 2 percent. The leading European stock exchanges fell, with the Paris stock exchange falling the most, around 1.5 percent.

The oil price continued to rise in the wake of the escalating unrest in the Middle East. A barrel of North Sea oil cost over 76 dollars at the close of the exchange.

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

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