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: 16 July 2024, 15:07

» Published: 27 June 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

Strike hits French Cognac
1 MIN READ

Strike hits French Cognac

Upbeat in Japan – Gloomy in China
1 MIN READ

Upbeat in Japan – Gloomy in China

Took a tough stance on crypto companies - resigns
1 MIN READ

Took a tough stance on crypto companies - resigns

Ingvar Carlsson on PG: "A very loyal friend"
2 MIN READ

Ingvar Carlsson on PG: "A very loyal friend"

No Wage Guarantee in American Process
1 MIN READ

No Wage Guarantee in American Process

He became "PG" to the entire Swedish people
3 MIN READ

He became "PG" to the entire Swedish people

PG Gyllenhammar has died: "meant a lot"
1 MIN READ

PG Gyllenhammar has died: "meant a lot"

Unstable US stock market ends on a plus
1 MIN READ

Unstable US stock market ends on a plus

Temu's owner shows its hand
1 MIN READ

Temu's owner shows its hand

Nvidia rises in pre-trading on Wall Street
1 MIN READ

Nvidia rises in pre-trading on Wall Street

Reconstruction in the USA to save Northvolt
3 MIN READ

Reconstruction in the USA to save Northvolt

Northvolt: Negotiations are still ongoing
3 MIN READ

Northvolt: Negotiations are still ongoing

Higher Compensation for Job Interviews in Another Location
1 MIN READ

Higher Compensation for Job Interviews in Another Location

Vehicle Giant Warns of Challenges in 2025
1 MIN READ

Vehicle Giant Warns of Challenges in 2025

Unchanged interest rate in Turkey
1 MIN READ

Unchanged interest rate in Turkey

Trump anxiety in the EU over US tariffs
3 MIN READ

Trump anxiety in the EU over US tariffs

Weak demand for scrapping premium
1 MIN READ

Weak demand for scrapping premium

E-fuel company takes in half a billion
1 MIN READ

E-fuel company takes in half a billion

New Report Boost for AI Giant Nvidia's Share
2 MIN READ

New Report Boost for AI Giant Nvidia's Share

Stockholm Stock Exchange Turned Upwards
1 MIN READ

Stockholm Stock Exchange Turned Upwards