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May 25, 2012
Bumper Friday for krona and stocks
Published: 21 Aug 09 18:38 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/21616/20090821/
The Stockholm stock exchange and the krona both hit record levels for the year on Friday as several economic indicators point to an upswing in Sweden's economic fortunes.
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Banks, trucks and engineering firms led the charge, with SEB, Volvo, Scania, Sandvik and Atlas Copco all recording significant share price increases.
The OMXS index was in a buoyant mood all afternoon on news of Federal Reserve chairman Ben Bernanke's bright forecast for the US economy.
The Swedish krona also hit an annual high on a day in which finance minster Anders Borg expressed optimism about Sweden's GDP growth. The currency recorded record highs for the year against both the euro (10.09 kronor) and the dollar (7.02).
News agency TT said observers it had spoken to believed the embattled currency may now have crossed an important threshold on its path to recovery.
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Although anything can happen, and usually does, this new is more believable than that which comes out of the nation that produced the Depression.
Of late, their markets go down;
and when they go up as they did today, the net losses are overlooked. This is manipulation from the media and Wall Street.
Sweden is above that, and remedies whatever happens to their economy just as they did with their banks in the last crisis.
Sweden and Ukraine are both recovering, thanks to Yulia Tymoshenko, who is really an ancestor of the ancient Swedes who ruled the area in c 1300.
She is also smart enough to deal favorably with Validimar Putin, that is, that fellow with a brain who someone without one said that he could see Putin's soul in his eyes.
Putin has had many laughs over that epithet over shots of vodka with his Russian officers. He is also still in power, sould and all.
"Putin has had many laughs over that epithet over shots of vodka with his Russian officers. He is also still in power, sould and all."
I forget the exact words, but I do believe Obama's assessment of Putin as a bit more realistic if not a bit cynical.
It does seem stockmarkets on both sides of the ocean are improving. Will it last? Will it turn into a real recovery?
Looking at the Volvo news in this same issue I would think we are a bit away from any robust recovery.
News Sophisticate: Ever Heard of Sheikh Mohammed bin Rashid Al ...When Sheikh Mohammed bin Rashid Al Maktoum decided he wanted a part of the western financial ... [OMX] in addition to owning and running exchanges in Sweden, Denmark, Finland, ... commercial partner of Dubai International Financial Exchange ... holding almost half of the world's third-largest stock exchange.reuters ...
newssophisticate.blogspot.com/.../ever-heard-of-sheikh-mohammed-bin.html