Stockholm shares fall over credit worries

International credit worries were reflected in Stockholm share prices on Monday, with the OMXS index falling 1.6 percent. The more narrowly-based OMXS30 fell by the same amount.

Swedish Match was among the losers, over the government’s announcement that it planned to increase tax on cigarettes and Sweden’s popular snus oral tobacco.

Renewed concern on world credit markets, caused by the crisis at UK mortgage lender Northern Rock, was seen as a major factor in Stockholm’s fall. Shares in banks Nordea, SEB and Swedbank fell in Monday trading. Engineering companies Sandvik and SKF also experienced significant falls.