Strong Stock Market Rally Following Positive US Figure

An unexpected decline in the so-called core inflation in the USA in December boosted risk appetite on the world's stock exchanges, also in Stockholm.

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Strong Stock Market Rally Following Positive US Figure
Photo: Joakim Ståhl/SvD/TT

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The stock market's broad OMXS index rose directly after Wednesday's inflation report and closed at a plus of 2.3 percent.

A long series of unexpectedly strong financial reports from American financial giants such as JP Morgan Chase and Goldman Sachs also generated positive waves.

Among the most traded stocks in the OMXS30 index, the real estate company SBB surged 8.7 percent, and the cloud service company Sinch rose 5.7 percent.

The power company Kinnevik, with a focus on growth companies, also rose sharply – up 4.0 percent.

The increase in the OMXS30 was broad. Only one of thirty stocks fell: the pharmaceutical company Astra Zeneca, which sank 0.2 percent.

The leading European stock exchanges rose, with the DAX index in Frankfurt rising nearly 2 percent.

The Stockholm stock exchange rose 0.5 percent on Tuesday and thereby put an end to the price falls following last week's unexpectedly strong job figures from the USA, which pushed up long-term market interest rates and hit risk appetite on the world's stock exchanges.

Since the turn of the year, the Stockholm stock exchange, with Wednesday's increase, has risen by 2.5 percent.

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

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