Factory Giants Drag Down Stockholm Stock Exchange

The Stockholm stock exchange's broad OMXS index fell 0.4 per cent on Tuesday, weighed down by declines in engineering companies whose results did not meet the forecasts.

» Published: April 29 2025

Factory Giants Drag Down Stockholm Stock Exchange
Photo: Björn Larsson Rosvall/TT

An initial increase was replaced by a decline in the afternoon following interim reports from industrial companies Atlas Copco and Alfa Laval.

Giant Atlas Copco fell 4.0 percent and Alfa Laval lost 1.0 percent. However, they were not the worst. The hardest hit was household appliance company Electrolux, which plummeted over 17 percent after reporting weak development, primarily in North America.

Another loser was Volvo Cars, down 9.8 percent following the car manufacturer's report and announcement of a major cost-cutting package.

Major bank SEB, which reported unexpectedly high credit losses, fell 1.2 percent. Competitor Swedbank, on the other hand, rose 3.6 percent – the bank's result was better than analysts had predicted.

Gaming company Betsson rose 3.1 percent after, among other things, reporting a significantly increased number of customers during the previous quarter. The share was traded at a historically high level.

Indices on the Frankfurt and London stock exchanges rose, while the Paris stock exchange closed near zero.

Loading related articles...

Tags

TTT
By TTTranslated and adapted by Sweden Herald
Loading related posts...