Early year slide persists on Stockholm stock exchange

The Stockholm stock exchange slumped for the fourth consecutive day of trading on Monday, with shares in Ericsson weighing most heavily on the bourse.

By close of trading, the OMXS index had dropped 0.7 percent to 329.9 points.

Having shed some 6.3 percent of its value so far this year, Stockholm is one of the worst performing exchanges in the world at this early stage of 2008.

Shares in Ericsson slipped back 1.9 percent on Monday to a four-year low of 13.91 kronor. Ever since the company issued a profit warning in October Ericsson shares have lost a whopping 48 percent of their value.

ABB also had a poor day, falling 4.7 percent to 162 kronor. Sandvik and Atlas Copco each shed 2 percent.

Telecoms operators however bucked the trend with Telia Sonera up 1.3 percent and Tele 2 climbing 1.4 percent.

Swedish Match was the day’s big winner with share rising by 3.9 percent to 159.50 kronor.