Saab goes against the trend on a weak stock market

The Stockholm stock exchange fell broadly on Wednesday and the OMXS index dropped 1.9 percent. One of the few winners was the defense conglomerate Saab.

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Saab goes against the trend on a weak stock market
Photo: Jakob Åkersten Brodén/TT

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Even leading European stock exchanges fell back. The declines came after the American President Donald Trump's speech about introducing new trade tariffs.

Saab, on the other hand, continued to rise, up 2.9 percent, following the recent geopolitical developments, where it has become clear that Europe must take greater responsibility for its defense. Saab was thus one of only two stocks that rose in the OMXS30 index.

At the bottom of the OMXS30, which lists the most traded stocks, was the real estate company SBB, which plummeted 16.2 percent. The company's rental income for the fourth quarter did not meet expectations.

The gold price hovered near record levels and was traded at a high of 2,935 dollars per ounce, but the price fell late in the afternoon.

The krona strengthened slightly against the euro but weakened against the dollar. One euro cost 11.19 kronor and one dollar 10.75 kronor at the close of the exchange.

Counted from the turn of the year, the Stockholm stock exchange has risen 8.7 percent, despite Wednesday's decline.

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

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