Stocks dip on shortened trading day
TT/The Local · 31 Oct 2008, 16:48
Published: 31 Oct 2008 16:48 GMT+01:00
The dip follows three successive days of gains on the OMXS index, and reflects similar trends on markets across Europe.
SEB shares shed 2.0 percent of their value to finish at 74.25 kronor, while Handelsbanken stock dropped 1.6 percent to 138.50.
Stock in telecoms giant Ericsson closed down 0.7 percent at 54.00 kronor following a warning from chip manufacturer Intel that the financial crisis would likely hit the company’s bottom line.
Drug maker Meda among the day’s losing stocks. The company’s profits fell by 80 million kronor, causing its shares to slide 13 percent.
The Industrivärden holding company reported a pre-tax loss of 8 billion kronor for the third quarter, compared with a loss of 3.1 billion kronor for the same period last year. The mounting losses cause stock in the company to fall 0.9 percent.