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Bumper Friday for krona and stocks

TT/The Local · 21 Aug 2009, 18:38

Published: 21 Aug 2009 18:38 GMT+02:00

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By close of trading the Stockholm bourse was up 2.7 percent to 281.4 points, the highest level since August last year.

Banks, trucks and engineering firms led the charge, with SEB, Volvo, Scania, Sandvik and Atlas Copco all recording significant share price increases.

The OMXS index was in a buoyant mood all afternoon on news of Federal Reserve chairman Ben Bernanke's bright forecast for the US economy.

The Swedish krona also hit an annual high on a day in which finance minster Anders Borg expressed optimism about Sweden's GDP growth. The currency recorded record highs for the year against both the euro (10.09 kronor) and the dollar (7.02).

News agency TT said observers it had spoken to believed the embattled currency may now have crossed an important threshold on its path to recovery.

Story continues below…

TT/The Local (news@thelocal.se)

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Your comments about this article

00:04 August 22, 2009 by lingonberrie
This is Sweden.

Although anything can happen, and usually does, this new is more believable than that which comes out of the nation that produced the Depression.

Of late, their markets go down;

and when they go up as they did today, the net losses are overlooked. This is manipulation from the media and Wall Street.

Sweden is above that, and remedies whatever happens to their economy just as they did with their banks in the last crisis.

Sweden and Ukraine are both recovering, thanks to Yulia Tymoshenko, who is really an ancestor of the ancient Swedes who ruled the area in c 1300.

She is also smart enough to deal favorably with Validimar Putin, that is, that fellow with a brain who someone without one said that he could see Putin's soul in his eyes.

Putin has had many laughs over that epithet over shots of vodka with his Russian officers. He is also still in power, sould and all.
15:39 August 28, 2009 by randyt
lingonberrie, I love this comment and could not agree more,

"Putin has had many laughs over that epithet over shots of vodka with his Russian officers. He is also still in power, sould and all."

I forget the exact words, but I do believe Obama's assessment of Putin as a bit more realistic if not a bit cynical.

It does seem stockmarkets on both sides of the ocean are improving. Will it last? Will it turn into a real recovery?

Looking at the Volvo news in this same issue I would think we are a bit away from any robust recovery.
17:39 September 7, 2009 by Tony Ryals
But why did Sweden allow the Sheik of Dubai whose country sent over $100,000 to Mohamed Atta at Jeb Bush's pal Wally Hilliard's Huffman Aviation in Venice,Florida pre 9/11 to buy much or all the Swedish stock exchange and what is his cut whenever any Swede now buys shares in Swedish or other companies listed?And what is the connection between the Sheikh and the Zio-Nazis in stock fraud on the U.S. NASQAQ that he was also allowed to buy? You may be assured that had the Iranian government bought into those two exchanges the Zio-Nazis and Israelis who use the U.S.stocks for money laundering and corporate sabotage would never let you forget.

News Sophisticate: Ever Heard of Sheikh Mohammed bin Rashid Al ...When Sheikh Mohammed bin Rashid Al Maktoum decided he wanted a part of the western financial ... [OMX] in addition to owning and running exchanges in Sweden, Denmark, Finland, ... commercial partner of Dubai International Financial Exchange ... holding almost half of the world's third-largest stock exchange.reuters ...

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