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Foreign investors thrive on the Stockholm exchange: report

The Stockholm stock exchange has retained its allure among foreign investors who now own 35 percent of its total value, new figures published on Friday.

Foreign investors thrive on the Stockholm exchange: report

Stock market heavyweights such as Scania, Assa Abloy and Electrolux are among the popular choices for foreign investors looking to boost their portfolios in Sweden, according to the Svenska Dagbladet (SvD) newspaper.

Strong gains in these company as well as tobacco products firm Swedish Match and Lundin Petroleum, have meant that the the share of the exchange owned by foreign investors has increased from 34.8 percent at the end of 2008 to a current 35.3 percent, according to the figures from SIS Ownership Data Corp (SIS), a company which tracks data about companies listed on the Stockholm exchange.

With 75 percent of its stock in the hands of foreign investors, truck maker Scania is the major company with the highest level of overseas ownership.

German firm Volkswagen, with its 30 percent stake in Scania, is thus second only to Finnish insurance giant Sampo in the table of major foreign investors on the Stockholm exchange.

Sampo’s holdings in Stockholm are based on its 18 percent stake in Scandinavian bank Nordea and amounts to a total value of 46.5 billion kronor ($6.3 billion).

The third largest foreign owner on the Stockholm exchange is the Finnish state with total investments worth 26 billion kronor.

The Stockholm stock exchange was acquired by NASDAQ for in February 2008 and has a market capitalization of around 2,500 billion kronor.

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FINANCE

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.
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