SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Weak decline on the stock exchange – H&M plummeted

The Stockholm stock exchange fell slightly on Thursday. The OMXS index fell by 0.2 percent. Among the index heavyweights, the clothing chain H&M plummeted after a weak interim report.

» Updated: July 16 2024

» Published: June 27 2024

Weak decline on the stock exchange – H&M plummeted
Photo: Anders Wiklund/TT

The Stockholm stock exchange fell slightly on Thursday. The OMXS index fell by 0.2 percent.

Among the index heavyweights, the clothing chain H&M plummeted after a weak interim report.

H&M was able to present a clear profit increase, but the report did not meet market expectations regarding margins. The company also stated that unfavorable weather had created headwinds in sales at the beginning of June. The share fell by 13 percent.

The major bank SEB and the telecom equipment manufacturer Ericsson were among the winners among the most traded stocks in the OMXS30 index. They increased by 1.4 and 1.2 percent, respectively.

The crisis-stricken real estate company Oscar Properties' share fell by 2.6 percent after the company announced that certain subsidiaries had been declared bankrupt.

The leading European stock exchanges went in different directions. Frankfurt rose by a few tenths of a percent, while the decline in London and Paris was 0.4 and 1 percent, respectively.

The Swedish krona fell against both the dollar and the euro after the Swedish Central Bank, as expected, left the interest rate unchanged at 3.75 percent, but opened up for two or three cuts during the second half of the year. Previously, the Swedish Central Bank had counted on two cuts. One dollar cost 10.62 kronor and one euro 11.37 kronor in the late afternoon.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

European Inflation Revised Downward

European Inflation Revised Downward

Stockholm Stock Exchange Opens on Minus

Stockholm Stock Exchange Opens on Minus

More and more rush to declare

More and more rush to declare

Inflation Expectations Rise

Inflation Expectations Rise

Wallenberg does not believe in state rescue of Northvolt

Wallenberg does not believe in state rescue of Northvolt

Hard to find an apprenticeship for vocational programs

Hard to find an apprenticeship for vocational programs

Record win for Skistar: Prioritizing the mountains

Record win for Skistar: Prioritizing the mountains

Forecast: Cheap Electricity Due to High Water Levels

Forecast: Cheap Electricity Due to High Water Levels

Swedish trade unique - "can be price-increasing"

Swedish trade unique - "can be price-increasing"

Mostly Upwards on Asian Stock Exchanges

Mostly Upwards on Asian Stock Exchanges

Japan leaves the interest rate unchanged

Japan leaves the interest rate unchanged

SBAB: The Central Bank lowers the interest rate after the summer

SBAB: The Central Bank lowers the interest rate after the summer

Nvidia rolls into GM's vehicles

Nvidia rolls into GM's vehicles

Wall Street fell again – Tesla continues to plummet

Wall Street fell again – Tesla continues to plummet

New confidence for the oil fund's CEO

New confidence for the oil fund's CEO

Heavy decision on Northvolt this week

Heavy decision on Northvolt this week

Ikano Bank Cuts Back – 200 to Go

Ikano Bank Cuts Back – 200 to Go

Wage Negotiations in Final Stage – New Bids on the Way

Wage Negotiations in Final Stage – New Bids on the Way

Mortgage lenders raise interest rates

Mortgage lenders raise interest rates

The Hackers Struck When the Tax Return Opened

The Hackers Struck When the Tax Return Opened

New York dragged Stockholm Stock Exchange down

New York dragged Stockholm Stock Exchange down

Tesla competitor promises record-fast charging

Tesla competitor promises record-fast charging

Get your tax refund before Easter

Get your tax refund before Easter

Still Happy Faces on Asian Stock Exchanges

Still Happy Faces on Asian Stock Exchanges

Alphabet buys company for 333 billion kronor

Alphabet buys company for 333 billion kronor

This is how it went for the "party Swedes"

This is how it went for the "party Swedes"

The US stock market rose for the second day in a row

The US stock market rose for the second day in a row

Swedish drug candidate classified in the USA

Swedish drug candidate classified in the USA

Oil price rises after Trump's threats against Iran

Oil price rises after Trump's threats against Iran

Up to 7,500 jobs away from Audi

Up to 7,500 jobs away from Audi

USA's retail trade below expectations

USA's retail trade below expectations

Klarna's giant deal in the USA - "game changer"

Klarna's giant deal in the USA - "game changer"

Major Bank Raises Mortgage Interest Rates

Major Bank Raises Mortgage Interest Rates

Busch hopes for battery support from the EU

Busch hopes for battery support from the EU

OECD: Trump's Trade War Slows Down the Global Economy

OECD: Trump's Trade War Slows Down the Global Economy

Clothing Chain Applies for Bankruptcy Protection

Clothing Chain Applies for Bankruptcy Protection

Astra Zeneca makes multi-billion purchase

Astra Zeneca makes multi-billion purchase

The Stockholm Stock Exchange closed up

The Stockholm Stock Exchange closed up

These educations give you a job

These educations give you a job

Cheerful start on Asia's stock exchanges

Cheerful start on Asia's stock exchanges