Stockholm Stock Exchange steps up again to positive territory


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Thursday, 11 August 2011
Stockholm stock exchange ended the day strong and when the trade was closed OMXS index rushed by 3.5 percent to 294.2 points.

Stockholm Stock Exchange went down on Thursday afternoon. At about 14 hours local time,   the index of leading shares on the Stockholm market fell by 0.6 percent, a development that was in line with the rest of Europe.

The banking sector had a tough time with all four major banks in deficit. Ericsson fell 0.9 percent and H & M was down by 1.5 percent. A few minutes into the trading in the morning the OMXS index went up by 2.0 percent. The rise was in line with other exchanges in Europe.

All sector indices in Stockholm showed a plus. The upturn on the Stockholm Stock Exchange continues, after about an hour of trading as the OMXS index danced around the plus 1.8 percent.


Biotechnology Company, Active Biotech submitted its interim report this morning. The company reported a profit before tax of Skr145.8 million for the second quarter of this year, compared with a loss of Skr54.8 million a year ago. Active Biotech share rose 16.5 percent to Skr 34:60.

Engineering companies were strong, Sandvik rose by 2.5 percent to Skr83:40 and SKF shares are up by 1.4 percent to Skr 143:80.

Bank shares performed well after having suffered severely in the financial turmoil. SEB was up 2.2 percent at Skr37:95, Swedbank  also rose 1.5 percent to Skr 85:70, Handelsbanken climbed 1.0 percent to Skr 173:30 and Nordea rose 0.5 percent to Skr 57:05.

Data from Statistics Sweden earlier in the morning also showed that inflation is increasing in Sweden. The inflation rate was 3.3 percent, compared with 3.1 percent in June. The inflation rate is the average change in consumer prices over the past twelve months.

The market might also have been encouraged by news from the USA which showed that the number of new applicants for unemployment benefits there fell by 7,000 persons to 395,000 persons, in week 31, compared with last week.

The seasonally adjusted statistics from the U.S. Department of Labour gave this bright light against analysts’ expectation which had hoped that there would be 405,000 new job seekers, according to Bloomberg News forecast.
By Team

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