Stockholm exchange climbs new peak

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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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.