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Stockholm exchange climbs new peak

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15:19 CEST+02:00
Stockholm stock exchange continued its steady rise since the turn of the year and set a new annual high on Thursday.

The OMXS index peaked at 275.85 at around 1.30pm, the highest level since September 2008.

Behind the continued upturn are the strong GDP figures from Germany and France, as well as a a strong quarterly report from US retail giant Walmart.

When the Stockholm exchange opened on Thursday it immediately climbed on the back of gains in Asian and US markets.

The confirmation from the US Federal Reserve that the situation in the American economy had stabilized, and that the base rate had been left unchanged, gave the world's stock markets all the encouragement they needed.

On the home front the education provider Academedia reported a profits increase in the morning and shot up by 7.7 percent in morning trading.

Engineering concern Cardo reported a slightly weaker year-on-year result in the second quarter but climbed 6.6 percent nonetheless.

Mobile telecom services firm Aspiro reported a pre-tax profit of 0.7 million kronor ($97,822) for the second quarter in comparison to a profit of 8 million kronor in the corresponding period of last year. The company's stock declined 1.6 percent in morning trading.

Order intake to Swedish industry increased with a slight 0.1 percent during the second quarter in comparison with the first quarter, according to preliminary figures from Statistics Sweden (SCB).

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