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Stockholm Stock Exchange starts down Friday morning as the market nervousness persists

Friday, 23 September 2011
The Stock market open down after yesterday’s annihilation and the negative feelings continued to be felt straight away. News from the Asian market just added to complicate an already complicated situation. But it looks like there was a glimmer of hope.

The Stockholm bourse began shakily on Friday, but worked his way better to follow the trend with the other European stock markets to dangle along the -/+ lines.

Investors were digesting news from the new hope in the commitment of the G20 group to manage the escalating risks in the global economy, accompanied by applause and pledges of support from the BRIC countries and Japan.
By 11 hours Swedish time, the index of leading Swedish stocks, the OMXS30 remained unchanged at zero, though it looked like it was heading into the negative territory. Some analysts said that there was not enough strong news to make the market really move well.

However, turnover on the Stockholm Stock Exchange was relatively low Skr3.1 billion. The combined turnover, including Burgundy, Chi-X, Turquoise and Bats, amounted to Skr4.9 billion.

The upside was broad across sectors during the morning, while mining and oil companies could see the downside.

The Swedish krona strengthened against the euro and dollar. On the bond market the Swedish ten-year bond yield was up 1 point to 1.70 percent.

In Europe, the regional index Euro Stoxx 50 was up 0.8 percent. London Stock Exchange's FTSE 100 rose 0.6 percent, and the Paris Stock Exchange's CAC 40 was 0.5 percent higher. Frankfurt Stock Exchange's DAX index was up 0.4 percent.

Lundin Petroleum defied a negative trend for commodity-related shares and rose 1.8 percent to Skr82:60.
Swedish Match was down 0.9 percent to Skr 217:70.

Volvo fell 0.7 percent to Skr67:20 as well as Scania B shares which also fell 1.1 percent to Skr 92:90.
By Scancomark.se team

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