Sweden said Wednesday it had sold its remaining 7-percent share in the country's largest bank, Nordea, for 21.6 billion kronor ($3.4 billion) with the proceeds being used to reduce public debt.
Sweden's centre-right government said on Wednesday it had sold 6.4 percent of Nordea, the largest Nordic bank, for 19.5 billion kronor ($3.05 billion).
Scandinavian airline SAS said Wednesday it improved its operating profit last year but that it was dragged into loss as its former subsidiary Spanair filed for bankruptcy.
Scandinavian airline SAS reported on Tuesday a slim third-quarter net profit, a switch from a deep loss in 2010, and maintained its positive outlook for all of 2011, but said uncertainty lay ahead.
Swedish clothing giant Hennes & Mauritz reported a profit before tax of 4.85 billion kronor ($717 million) for the period June-August, the third quarter in the company's irregular accounting period.
The Stockholm stock market continued to fall on Friday, with the OMXS-index dropping nearly 4 percent within 30 minutes of opening and finishing the week down nearly 11 percent.
Scandinavian airline SAS on Wednesday said it returned to profit in the second quarter as its passenger numbers increased, and maintained its outlook of full-year growth despite higher fuel prices.
The ongoing financial crisis in the US is causing growing concern among locals in the municipality of Pajala in the North of Sweden, whose future is largely dependent on an iron ore ore mine due to be opened by an American company.
The Stockholm stock exchange dropped by 4 percent at the opening of trading on Friday morning, but had recouped the losses by the afternoon amid mounting fears about the the global economy..
Two men at the centre of Sweden’s biggest ever insider trading case have been sentenced to two years in jail for tax crimes, but have been cleared on the main charges of insider trading.
Increasing concern about the European debt crisis and renewed tensions between North and South Korea caused share prices in Stockholm to fall sharply on Tuesday.
The Stockholm stock exchange has retained its allure among foreign investors who now own 35 percent of its total value, new figures published on Friday.
Swedish households’ net wealth fell by 6.6 percent, or 185 billion kronor ($24.3 billion), during the third quarter of 2008, with losses from shares and funds accounting for 45 percent of the drop.
After reporting better than expected profits for the third quarter, Swedbank then saw its shares drop more than 10 percent on Thursday following an announcement that the bank may need to seek additional capital.
Shares in Stockholm rose by more than 3 percent on Wednesday, following the unexpected decision by the US Federal Reserve to cut interest rates by 0.5 percent.
