USA figure gave the stock exchange an extra boost

Stockholm Stock Exchange rose and the crown was strengthened on Wednesday. Fewer American jobs than expected gave a little extra boost to the stock market. The broad OMXS-index rose 0.8 percent.

» Updated:

» Published:

USA figure gave the stock exchange an extra boost
Photo: Johan Hallnäs / TT

Share this article

Stockholm Stock Exchange rose and the crown was strengthened on Wednesday. Fewer American jobs than expected gave the stock market an extra boost. The broad OMXS-index rose 0.8 percent.

Prices got an extra push during the afternoon trading after the US job figures showed weaker than expected. This opens the door for earlier interest rate cuts in the US, which in turn strengthened the crown slightly against the dollar.

The stock market rise was broad, almost all heavyweights are on the plus side. Good went, among others, truck manufacturer Volvo, which rose 2.6 percent, after strong order statistics in the US.

Real estate company SBB increased 5.7 percent, while investment company Kinnevik rose 3.2 percent.

Volvo Cars released monthly figures that showed a 13 percent increase in sales in May, the stock closed 2.5 percent higher.

The real winner was real estate company Oscar Properties, which after an agreement with lenders now looks set to avoid bankruptcy. The stock rose over 300 percent to 37 öre.

Another winner of the day was the Clas Ohlson chain, plus 8.7 percent, after a stronger quarterly report than expected.

Medical equipment company Elekta got a slap in the face from speculators after its quarterly report, the stock fell 18 percent.

Even the leading European stock exchanges rose. The stock exchanges in Frankfurt and Paris rose to the same level as Stockholm, while the London stock market's rise was slightly less.

The crown weakened a few öre against the dollar during the morning, but strengthened again after the US statistics and cost 10.42 at 17:30.

Tags

Author

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

More news

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Swedish Households Shift from Borrowing to Diverse Savings Strategies

Swedish Households Shift from Borrowing to Diverse Savings Strategies

German Investor Confidence Surges Unexpectedly in September

German Investor Confidence Surges Unexpectedly in September

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Stockholm Stock Exchange Steady as H&M Leads Gains

Stockholm Stock Exchange Steady as H&M Leads Gains

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Weakening Dollar: Key Considerations for Investors

Weakening Dollar: Key Considerations for Investors

Asian Stock Markets Rise Following Trump's Trade Talks Update

Asian Stock Markets Rise Following Trump's Trade Talks Update

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices