Stockholm shares fall sharply
TT/The Local · 9 Aug 2007, 16:51
Published: 09 Aug 2007 16:51 GMT+02:00
"What we are seeing is real financial worry and uncertainty on the markets, and it is having this kind of result," said Rodney Alfvén, chief analyst at Chevreuz Nordic.
Share prices fluctuated wildly over the past two weeks. The past two days saw markets regain some stability, but Thursday saw heavy falls.
"What has happened is that one of France's largest business banks, BNP, has had to close one of its funds with links to the US mortgage market," said Alfvén.
The biggest loser in Stockholm was New Wave, which earlier released its half-year report. The company's shares lost ten percent of their value. Nobel Biocare and SAS also fell.
Stock market operator OMX bucked the trend, rising six percent after the Dubai stock market company DIFX announced it wanted to buy at least 25 percent of the company's shares. DIFX said it wanted to buy shares for a value of 230 kronor each, on the condition that it could gain control over at least 25 percent of the company. By 10am OMX shares stood at 229 kronor.