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.

» Published: January 08 2025

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

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This follows the company's announcement that certain bondholders who had previously made claims on the company have now withdrawn them.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.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Genre image
1 MIN READ

China Hits Back with 34 Percent Tariff on US Goods

Ica Bank Cuts Mortgage Rate
1 MIN READ

Ica Bank Cuts Mortgage Rate to 3.68 Percent

Sweden's New Trade Deal Boosts
1 MIN READ

Sweden's New Trade Deal Boosts Pay and Cuts Working Hours

Police Warn of Crime Surge
1 MIN READ

Police Warn of Crime Surge Risk Following Northvolt Bankruptcy

Cristina Stenbeck Returns as Kinnevik
1 MIN READ

Cristina Stenbeck Returns as Kinnevik Chairman After 7 Years

Stockholm Stock Exchange Faces Downturn
1 MIN READ

Stockholm Stock Exchange Faces Downturn as US Trade Talks Stall

Stock Market Sees Largest Single-Day
1 MIN READ

Stock Market Sees Largest Single-Day Drop Since 2020 Pandemic

Transport Unions and Employers Seal
1 MIN READ

Transport Unions and Employers Seal New Wage Agreement

EU Tariffs on US Goods
3 MIN READ

EU Tariffs on US Goods Could Raise Prices for Swedish Shoppers

Asian Markets Slide Following US
1 MIN READ

Asian Markets Slide Following US Tariff Announcement

IMF Warns US Tariffs Threaten
1 MIN READ

IMF Warns US Tariffs Threaten Global Economic Growth

Trump Signals Openness to Tariff
1 MIN READ

Trump Signals Openness to Tariff Negotiations for Economic Boost

EU Prepares Trade Countermeasures as
3 MIN READ

EU Prepares Trade Countermeasures as US Tariffs Loom

WTO Warns Trump's Tariffs Could
1 MIN READ

WTO Warns Trump's Tariffs Could Cut Global Trade by 1 Percent

Canada Imposes 25-Percent Tariffs on
1 MIN READ

Canada Imposes 25-Percent Tariffs on US Cars in Trade Dispute

Macron Urges EU Firms to
1 MIN READ

Macron Urges EU Firms to Rethink US Investments Over Tariffs

Volvo's Shift to Electric Cars
2 MIN READ

Volvo's Shift to Electric Cars Faces Scrutiny as Diesel Demand Persists

Stellantis Halts Canada and Mexico
1 MIN READ

Stellantis Halts Canada and Mexico Production Over US Tariffs

Fitch Downgrades China's Credit Rating
1 MIN READ

Fitch Downgrades China's Credit Rating Citing Economic Concerns

Wind Farm Cable Approval Granted
2 MIN READ

Wind Farm Cable Approval Granted but Vattenfall Faces Cost Hurdle

US Stock Market Tumbles as
3 MIN READ

US Stock Market Tumbles as Tariffs Hit Tech Giants

US Tariffs Pose Global Economic
2 MIN READ

US Tariffs Pose Global Economic Challenge, Says Swedish Central Bank Chief

Ikano Bank Faces Police Report
1 MIN READ

Ikano Bank Faces Police Report in Denmark Over Misleading Marketing

EU Trade Chief Sefcovic to
1 MIN READ

EU Trade Chief Sefcovic to Discuss US Tariffs on Friday

Volvo Cars Boosts US Production
3 MIN READ

Volvo Cars Boosts US Production in Response to Trump's Tariffs

US Imposes Tariffs on Remote
1 MIN READ

US Imposes Tariffs on Remote Penguin Islands in Australian Territory

Saab Secures Major Order for
1 MIN READ

Saab Secures Major Order for Combat Vehicle Systems from BAE Systems

Trump Tariffs Threaten to Hike
1 MIN READ

Trump Tariffs Threaten to Hike Coffee Prices in the US

Trump's New Tariffs Spark Global
2 MIN READ

Trump's New Tariffs Spark Global Criticism and Economic Concerns

Kent Concerts Spark Hotel Market
1 MIN READ

Kent Concerts Spark Hotel Market Boost in Stockholm

US Boosts Norwegian Salmon Imports
1 MIN READ

US Boosts Norwegian Salmon Imports Before Tariff Decision

Sweden's IT Sector Sees Reduced
1 MIN READ

Sweden's IT Sector Sees Reduced Work Hours and Pay Raise

Service Sector Slows as Index
1 MIN READ

Service Sector Slows as Index Drops Below 50 in Sweden

Kristersson Urges Action Over US
2 MIN READ

Kristersson Urges Action Over US Tariffs, Calls for EU-US Trade Talks

Economist Urges Swedish Savers to
2 MIN READ

Economist Urges Swedish Savers to Hold Steady Despite Tariff Impact

Stockholm Stocks Plunge 3.4 Percent
2 MIN READ

Stockholm Stocks Plunge 3.4 Percent After Trump's Tariff News

Stock Market Faces Uncertainty After
2 MIN READ

Stock Market Faces Uncertainty After Trump's Tariff Announcement

Food Prices Stabilize as Supermarkets
3 MIN READ

Food Prices Stabilize as Supermarkets Compete for Shoppers

EU Prepares Countermeasures as US
2 MIN READ

EU Prepares Countermeasures as US Tariffs Threaten Global Economy

Gold Prices Soar to Record
1 MIN READ

Gold Prices Soar to Record Highs Following Trump's Tariff News