Saab rose as the stock market fell

The Stockholm Stock Exchange turned to minus in the afternoon, among other things since CNN revealed that incoming President Donald Trump may introduce an "economic emergency" in the USA. The defense conglomerate Saab, on the other hand, had a good day.

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Saab rose as the stock market fell
Photo: Fredrik Sandberg/TT

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At the close, the broad OMXS index had fallen by 0.4 per cent.

The decline comes after CNN revealed that Donald Trump is considering introducing a state of economic emergency in the USA to be able to impose the tariffs he has promised.

Even the futures on Wall Street turned negative after CNN's reporting – only to turn positive again.

Sivers Semiconductors, a manufacturer of circuit boards, surged 31.6 per cent after the news that the company had landed a deal.

Dustin, a Swedish IT reseller, which released its report in the morning, rose 7.6 per cent.

The OMXS30 index, comprising the most traded shares, was topped by the real estate company SBB, up 6.0 per cent. This follows the company's announcement that certain bondholders who had previously made claims on the company have now withdrawn them.

Saab rose 3.4 per cent. The company is being swept up in a general upswing for European defence shares following statements from Trump that Nato countries should allocate 5 per cent of their GDP to defence spending.

The losers on the large-cap index included Nibe, a heat pump manufacturer, which fell 4.1 per cent.

At the close in Stockholm, the major European stock exchanges showed divergent trends. Frankfurt and Paris were in the red, while London was hovering around zero.

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

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