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STOCK EXCHANGE

Stocks dip on shortened trading day

The Stockholm stock exchange finished Friday down 0.57 percent to close at 201.37 on a trading day shortened in advance of the All Saints Day holiday.

Published: 31 October 2008 16:48 CET

The dip follows three successive days of gains on the OMXS index, and reflects similar trends on markets across Europe.

Trading in Stockholm ended at 1:00pm, and bank stocks struggled through another tough day with Swedbank shares dropping 1.2 percent to 62.25 kronor ($8.00) and Nordea stock off 3.2 percent to 61.00.

SEB shares shed 2.0 percent of their value to finish at 74.25 kronor, while Handelsbanken stock dropped 1.6 percent to 138.50.

Stock in telecoms giant Ericsson closed down 0.7 percent at 54.00 kronor following a warning from chip manufacturer Intel that the financial crisis would likely hit the company’s bottom line.

Drug maker Meda among the day’s losing stocks. The company’s profits fell by 80 million kronor, causing its shares to slide 13 percent.

The Industrivärden holding company reported a pre-tax loss of 8 billion kronor for the third quarter, compared with a loss of 3.1 billion kronor for the same period last year. The mounting losses cause stock in the company to fall 0.9 percent.

FINANCE

Stockholm stock exchange suffers worst day of 2018

The Stockholm stock exchange plunged by 2.8 percent on Thursday, making it the worst trading day of 2018.

Published: 6 December 2018 22:30 CET
Stockholm stock exchange suffers worst day of 2018
File photo: Stina Stjernkvist/TT
Stock markets across Europe suffered for the third day in a row as the arrest of a top Huawei executive in Canada has raised the spectre of an all-out trade war between the US and China.
 
For the Stockholm Stock Exchange, it meant a blood-red trading day that ended as the worst of the year thus far. The OMXS Stockholm 30 index fell by a combined 2.8 percent.
 
The majority of the companies on the index lost value, with the exception of Ericsson, which seemed to benefit from the news about its Chinese competitor Huawei with a 1.8 percent increase. Airline SAS also saw its stock increase, rising 4.2 percent thanks to sharp declines in oil prices. 
 
Among Thursday’s biggest losers was the mining company Boliden, which suffered a 6.1 percent drop. The stock of the Stockholm-based tech company Hexagon fell 5.6 percent.
 
Meanwhile, the stock of Swedish auto safety equipment manufactor Autoliv fell 6.1 percent on the news that it expects to pay some 1.8 billion kronor in fines as a result of an European Commission investigation into anti-competitive behavior in the EU. 
 
Stockholm was far the only European bourse to have a gloomy Thursday. The CAC index in Paris fell 3.3 percent, the DAX index in Frankfurt dropped 3.5 percent and the London Stock Exchange's FTSE index decreased by 3.2 percent.
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