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FINANCE

Growing Swedish companies attract more venture capital

Venture capital investments in small companies in Sweden grew to 46 billion kronor ($6.6 billion) in 2006, 14 percent more than in 2005.

Around 6 billion kronor went to 668 investments in companies in the seed, start-up and expansion phases, according to a new report.

The report was produced by the Swedish Private Equity and Venture Capital Association (SVCA), along with the Swedish Agency for Economic and Regional Growth and the state-backed innovation finance foundation Innovationsbron.

Companies in the more mature growth phases of buyout and replacement capital received investments of around 40 billion kronor, a rise of ten percent on 2005. Companies involved in medical technology and biotechnology received the largest numbers of investments.

“The majority of venture capital companies believe that the economy will continue to grow, and they see improved possibilities for good exits,” said Tom Berggren, CEO of SVCA.

“Nearly half say that they will invest more capital in 2007 than in 2006,” he added.

FINANCE

Stockholm stock exchange suffers worst day of 2018

The Stockholm stock exchange plunged by 2.8 percent on Thursday, making it the worst trading day of 2018.

Stockholm stock exchange suffers worst day of 2018
File photo: Stina Stjernkvist/TT
Stock markets across Europe suffered for the third day in a row as the arrest of a top Huawei executive in Canada has raised the spectre of an all-out trade war between the US and China.
 
For the Stockholm Stock Exchange, it meant a blood-red trading day that ended as the worst of the year thus far. The OMXS Stockholm 30 index fell by a combined 2.8 percent.
 
The majority of the companies on the index lost value, with the exception of Ericsson, which seemed to benefit from the news about its Chinese competitor Huawei with a 1.8 percent increase. Airline SAS also saw its stock increase, rising 4.2 percent thanks to sharp declines in oil prices. 
 
Among Thursday’s biggest losers was the mining company Boliden, which suffered a 6.1 percent drop. The stock of the Stockholm-based tech company Hexagon fell 5.6 percent.
 
Meanwhile, the stock of Swedish auto safety equipment manufactor Autoliv fell 6.1 percent on the news that it expects to pay some 1.8 billion kronor in fines as a result of an European Commission investigation into anti-competitive behavior in the EU. 
 
Stockholm was far the only European bourse to have a gloomy Thursday. The CAC index in Paris fell 3.3 percent, the DAX index in Frankfurt dropped 3.5 percent and the London Stock Exchange's FTSE index decreased by 3.2 percent.
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