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Euro optimism rubs off on Swedish stock prices

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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

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