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No "Trump Effect" on the Stockholm Stock Exchange

"The Trump effect" was absent on the Stockholm Stock Exchange. After an initial rise, the broad OMXS index fell to minus 0.9 percent at closing.

» Updated: 06 November 2024, 17:54

» Published: 06 November 2024

No "Trump Effect" on the Stockholm Stock Exchange
Photo: Stina Stjernkvist/TT

Donald Trump's victory in the presidential election contributed to driving the market development on the Stockholm Stock Exchange during the morning, with the OMXS index initially rising by around 2 percent.

Among today's biggest losers, the cloud service company Sinch stood out, plummeting 27.0 percent after the morning's interim report.

Other losers included the air heat pump manufacturer Nibe, which fell 7.2 percent. The company has been seen as a loser due to Trump's energy policy.

Even the hygiene and health company Essity lost 3.7 percent.

In the opposite direction, Hexagon and ABB rose 1.7 and 1.4 percent, respectively. Outside the large-cap list, Securitas surged after the morning's interim report, up 10.4 percent.

At the close of the exchange, one dollar cost 10.86 kronor and one euro 11.66 kronor.

Corrected: An earlier version of the text contained an incorrect description of today's development for the OMXS index.

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By TTThis article has been altered and translated by Sweden Herald

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