Trading off to shaky start

The Stockholm stock exchange saw a turbulent opening to the new week on Monday with stocks down 5 percent after just 15 minutes of trading.

Swedbank plunged 13 percent on news that it was to issue fresh shares to the tune of 12.4 billion kronor ($1.55 billion).

Carnegie was down 14 percent by 9.30am after the Riksbank announced on Monday it would provide one billion kronor ($124 million) in special liquidity assistance to the beleaguered investment bank.

Shares in Electrolux bucked the trend following a slow start, jumping 2.8 percent in early trading after the white goods giant posted a third quarter report with profits higher than anticipated.