Swedish stock market ends week on a high

A rollercoaster week on the Stockholm stock exchange ended on a peak as rates rose in anticipation of Friday's financial rescue package vote in the United States.

The OMXS index rose 1.9 percent on Friday, closing on 247.7 points.

All eyes were turned to the United States as the House of Representatives prepares to vote on a financial crisis package. Wall Street also saw rates jump in early trading on news that supporters of the deal appeared to be in the majority.

Swedish banks continued their recovery on the Stockholm bourse after a torrid few weeks. Shares in Swedbank went up a hefty 8.1 percent, with SEB not far behind.

Raw materials stocks also ended the week strongly. Boliden saw shares up 6.2 percent, while SSAB’s shares rose 6 percent.

Friday was not so kind to the telecoms sector however, as Teligent shares lost 10 percent of their value and Ericsson saw a 0.5 percent slide.


Stockholm stock exchange suffers worst day of 2018

The Stockholm stock exchange plunged by 2.8 percent on Thursday, making it the worst trading day of 2018.

Stockholm stock exchange suffers worst day of 2018
File photo: Stina Stjernkvist/TT
Stock markets across Europe suffered for the third day in a row as the arrest of a top Huawei executive in Canada has raised the spectre of an all-out trade war between the US and China.
For the Stockholm Stock Exchange, it meant a blood-red trading day that ended as the worst of the year thus far. The OMXS Stockholm 30 index fell by a combined 2.8 percent.
The majority of the companies on the index lost value, with the exception of Ericsson, which seemed to benefit from the news about its Chinese competitor Huawei with a 1.8 percent increase. Airline SAS also saw its stock increase, rising 4.2 percent thanks to sharp declines in oil prices. 
Among Thursday’s biggest losers was the mining company Boliden, which suffered a 6.1 percent drop. The stock of the Stockholm-based tech company Hexagon fell 5.6 percent.
Meanwhile, the stock of Swedish auto safety equipment manufactor Autoliv fell 6.1 percent on the news that it expects to pay some 1.8 billion kronor in fines as a result of an European Commission investigation into anti-competitive behavior in the EU. 
Stockholm was far the only European bourse to have a gloomy Thursday. The CAC index in Paris fell 3.3 percent, the DAX index in Frankfurt dropped 3.5 percent and the London Stock Exchange's FTSE index decreased by 3.2 percent.