Stockholm Stock Exchange turned up after starting low


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Friday, 12 August 2011
Trading on the Stockholm Stock Exchange began with the market falling and as the minutes passed by, the OMXS index declined by 1.6 percent. The decline was in line with developments in the leading stock exchanges in Europe and Asia.

Then as time passed, the initial decline on the Stockholm Stock Exchange turned to a slight increase after one hour's trading. At about 10 am local time, the OMXS index rose by 0.8 percent.

Last night a decision came from  France, Italy, Spain and Belgium in which as from today,  short selling of shares are to be banned. The aim is to reduce the galloping volatility and excessive speculation that have created hyper uncertainty in the market. According to observers, this is considered to have had a calming effect on the markets. The measure aims to protect the European banking shares from big falls.

One of the companies on the Stockholm Stock Exchange as announced its interim report this morning and it is the clothing and gift company, New Wave Group. The company reported a profit before tax of Skr61.5 million for the second quarter of this year, compared with profit of Skr82.8 million in the corresponding periods of 2010. New Wave's shares fell by 6.8 percent to Skr 30:10.

Also wind Power Company Arise Windpower has also come up with its report, and reports a profit before tax of SEK 1.9 million for the second quarter of this year. Corresponding period of last year the company made a loss of Skr2.6 million. The share rose by 3.8 percent to Skr 41:00.
By Team

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