Volvo boosts resurgent stock exchange

The Stockholm stock exchange continued its recent upsurge on Wednesday despite a recession warning from the head of the US Federal Reserve.

The OMXS climbed 1.5 percent to finish at 325.7 at close of trading, mirroring developments on other European exchanges, which were largely unaffected by Ben Bernanke’s prophesies of a downturn in the US economy.

Volvo in particular had a very good day, finishing up 4.6 percent at 96.25 kronor on the back of a strong buy recommendation.

The banking sector also performed well. SEB was up 3.4 percent, Nordea up 2.9 percent, Handelsbanken up 2.2 percent and Swedbank up 0.9 percent.