Upward Trend on the Stockholm Stock Exchange

The Trading Week began with rising prices on the Stockholm Stock Exchange. The OMXS index closed 0.9 percent up.

» Published: July 22 2024

Upward Trend on the Stockholm Stock Exchange
Photo: Fredrik Sandberg/TT

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The trading week began with rising prices on the Stockholm Stock Exchange. The OMXS index closed 0.9 percent up.

After last week's decline, including the New York Stock Exchange, the market is now brighter. The drama within American politics with Joe Biden's withdrawal from the upcoming presidential election did not affect the stock market, which clearly rose.

The real estate company SBB surged 4.3 percent, while heat pump manufacturer Nibe rose 3.6 percent. Appliance manufacturer Electrolux was also among the winners with a 3.4 percent increase. The stock rose already last week in connection with the company's interim report.

In the opposite direction, online casino company Evolution closed 5.2 percent down. The company reported weak interim figures last week and the stock has received a lower target price from several quarters.

Defense conglomerate Saab also fell, minus 3.7 percent.

Fashion giant H&M sank 1.1 percent following JP Morgan's repeated sell recommendation for the stock.

The leading stock exchanges in Europe also rose on Monday.

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

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