OMX falls amid uncertainty

Share prices fell in opening trading on the Stockholm exchange on Monday, in line with developments on Asian markets on Monday and Friday trading on Wall Street.

The conflict in the Middle East and increasing oil prices were the main causes of the pressure on shares.

After around one hour of trading on Monday Stockholm’s OMXS index had fallen 1.2 percent to 290.9. All sectors were hit, but engineering came off worst. Atlas Copco fell 4 percent to 164.50 kronor. SKF, which announced on Monday that it was selling Ovako for 660 million kronor, fell 3.7 percent to 97 kronor.

Ericsson bucked the trend, rising 0.5 percent to 21.40 kronor. H and M’s disappointing sales statistics, which fell under analysts expecations, led the company’s shares to fall 1.5 percent to 262 kronor.