Record gains on Stockholm exchange

Record gains on Stockholm exchange
The Stockholm stock exchange recovered some of the ground lost in recent weeks with a massive 8.8 percent rise on Monday.

Monday’s market performance represented the third highest increase on the Stockholm bourse since 1987 and the largest so far this decade.

An EU-wide stabilization package at the weekend is being seen as the driving force behind Monday’s recovery, which was replicated in markets across the Union.

The country’s beleaguered bank stocks made a much needed recovery as the OMXS index climbed to 214.1 points.

SEB led the charge (+12.8 percent), closely followed by Swedbank (+11.3 percent), Handelsbanken (+7.4) and Nordea (+5.7).

Wallenberg family jewel Investor was also one of the day’s big winners, up 14.6 percent to 111.75 kronor.