Electrolux rises on calm stock market

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Electrolux rises on calm stock market
Photo: Fredrik Sandberg/TT

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The Stockholm stock exchange revolved around the zero line on Wednesday. The broad OMXS-index closed at plus 0.1 percent and the narrower heavyweight index OMXS30 rose 0.4 percent.

The day before, both Stockholm and US stock exchanges fell after the escalation of the conflict in the Middle East. And financial markets are now keeping an eye on the next step in the conflict between Iran and Israel.

Among the big winners, the white goods giant Electrolux and the defense conglomerate Saab stood out, up 2.6 and 2.5 percent, respectively, while the cloud service company Sinch was among the losers, down 5.6 percent.

Among other stocks, Volvo Cars fell 6.6 percent after the car manufacturer presented new sales figures showing that the growth rate had slowed down.

During the night's Asian trading, the rally on the Hong Kong stock exchange continued, rising over 6 percent.

On the leading European stock exchanges, the trend was mixed, but the index movements were moderate, both up and down.

With Wednesday's small increase, the Stockholm stock exchange has risen nearly 12 percent since the turn of the year.

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

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