Stockholm stock exchange approaches all time high

The Stockholm stock exchange has reached its highest level so far this year and is approaching an all time high. Analysts however are struggling to locate the source of renewed optimism.

Shortly after trading began on Tuesday, the OMXS index rose by 0.8 percent. The latest increase means that the Stockholm stock exchange has completed its recovery after February’s slump and is once more moving towards its highest ever level, a record set in March 2000.

The stock exchange has now risen by a full 7.5 percent since the start of the year.

Peter Malmqvist, a shares analyst at Nordnet, does not quite understand the reasons behind the evaporation of many people’s recent concerns.

“I don’t think we have seen any sort of information that looks better now than it did a month ago. The American economy is the most important factor, and nothing looks better there than it did one or two months ago,” he said.

Malmqvist does however speculate that the buoyancy may stem from analysts calling various companies to inquire about their forthcoming quarterly reports.

“My guess would be that rising optimism is linked to expectations about the quarterly reports,” he said.

The optimistic outlook in Stockholm followed a similar trend on the Asian markets. The European exchanges also started brightly on Tuesday.


Stockholm Pride is a little different this year: here’s what you need to know 

This week marks the beginning of Pride festivities in the Swedish capital. The tickets sold out immediately, for the partly in-person, partly digital events. 

Pride parade 2019
There won't be a Pride parade like the one in 2019 on the streets of Stockholm this year. Photo: Stina Stjernkvist/TT

You might have noticed rainbow flags popping up on major buildings in Stockholm, and on buses and trams. Sweden has more Pride festivals per capita than any other country and is the largest Pride celebration in the Nordic region, but the Stockholm event is by far the biggest.  

The Pride Parade, which usually attracts around 50,000 participants in a normal year, will be broadcast digitally from Södra Teatern on August 7th on Stockholm Pride’s website and social media. The two-hour broadcast will be led by tenor and debater Rickard Söderberg.

The two major venues of the festival are Pride House, located this year at the Clarion Hotel Stockholm at Skanstull in Södermalm, and Pride Stage, which is at Södra Teatern near Slussen.

“We are super happy with the layout and think it feels good for us as an organisation to slowly return to normal. There are so many who have longed for it,” chairperson of Stockholm Pride, Vix Herjeryd, told the Dagens Nyheter newspaper.

Tickets are required for all indoor events at Södra Teatern to limit the number of people indoors according to pandemic restrictions. But the entire stage programme will also be streamed on a big screen open air on Mosebacketerassen, which doesn’t require a ticket.  

You can read more about this year’s Pride programme on the Stockholm Pride website (in Swedish).