Sweden's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Euro optimism rubs off on Swedish stock prices

Share this article

Euro optimism rubs off on Swedish stock prices
07:39 CEST+02:00
The Stockholm Stock Exchange took an upbeat 0.3-percent skip after news on Wednesday that the eurozone economy was recovering.

After 18 months of negative growth, the eurozone's GDP grew by 0.3 percent in the second quarter of 2013, with mixed national results across the single currency area.

"This slightly more positive data is welcome, but there is no room for any complacency. Self-congratulatory statements suggesting 'the crisis is over' are not for today," European Commissioner Olli Rehn said in a written statement.

"Today's figures, when combined with other recent positive survey data, are encouraging and suggest the European economy is gradually gaining momentum."

Swedish news agency TT noted that while the Stockholm Stock Exchange did head upwards following the news, the euro optimism had not infected all the European exchanges.

But at home, several SSE-listed companies showed positive results. SKF went up by 11 percent, while telecome giant Ericsson and bank SEB both climbed 0.7 percent.

Forestry and paper consortium Holmen also released its half-year results, causing stock prices to edge up 0.5 percent.

TT/The Local/at

Follow The Local on Twitter

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

New Malmö museum will focus on ‘democracy and migration'

Change starts with one small step, whether it be a large or small scale project, it all requires movement. It's a logic that can be applied to starting a new national museum from scratch, especially one with an innovative theme that is going to take several years to come to fruition.