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.

» Published:

Bank shares weighed down the stock market
Photo: Envato Elements

Share this article

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.

Tags

Author

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

More news

FTC Investigates Google and Amazon Over Advertising Practices

FTC Investigates Google and Amazon Over Advertising Practices

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

ECB Officials Divided on Future Interest Rate Decisions

ECB Officials Divided on Future Interest Rate Decisions

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Microsoft to Remove Teams from Office Package in EU Agreement

Microsoft to Remove Teams from Office Package in EU Agreement

UK Economy Growth Stagnant in July as GDP Remains Unchanged

UK Economy Growth Stagnant in July as GDP Remains Unchanged

German Inflation Rises to 2.2 Percent in August

German Inflation Rises to 2.2 Percent in August

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Insurance Guide: What to Know After Västernorrland Floods

Insurance Guide: What to Know After Västernorrland Floods

Asian Stock Markets Rise on Week's Last Trading Day

Asian Stock Markets Rise on Week's Last Trading Day

Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

Trump Seeks Court Approval to Dismiss Fed Member Before Rate Decision

Warner Bros Discovery Surges on Wall Street Amid Paramount Bid Rumors

Warner Bros Discovery Surges on Wall Street Amid Paramount Bid Rumors

US Inflation Matches August Expectations

US Inflation Matches August Expectations

ECB Keeps Interest Rates Steady

ECB Keeps Interest Rates Steady

Novo Nordisk to End Remote Work in 2024

Novo Nordisk to End Remote Work in 2024

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Switzerland Suggests Moving Gold Refineries to USA to Lower Tariffs

Klarna's Stock Market Debut Attracts Swedish Small Investors

Klarna's Stock Market Debut Attracts Swedish Small Investors