The Stockholm stock exchange ended the week on a plus note since fresh statistics showed that inflation decreased as expected in the USA in May.
The OMXS index increased by 0.4 percent on Friday.
The stock market mood was dampened by concerns ahead of the first round of the French parliamentary election on Sunday, which is characterized by great political uncertainty and financial anxiety.
Among the most traded shares in the OMXS30 index, the real estate company SBB topped the list, up 4.6 percent. Also, the cloud service company Sinch and the measurement system manufacturer Hexagon were among the winners, up 1.7 and 1.6 percent, respectively.
Among those that went against the trend were, among others, the heating system manufacturer Nibe and the Kinnevik power company, both down 1.3 percent.
Polestar's Billion-Dollar Loss
Volvo Cars' share rose 1.2 percent after co-owned Polestar reported a delayed annual report for 2023 with a billion-dollar loss of SEK 15.5 billion. Volvo Cars describes the total net effect on the company's financial results as "immaterial".
Wallenberg's risk capital company EQT is selling a majority stake in the real estate website Idealista – the largest in Spain, Portugal, and Italy – for approximately SEK 33 billion. The share rose 1.3 percent on the news.
Fabege's share advanced 1.1 percent after the real estate company had its credit rating confirmed by the rating institute Moody's, albeit with negative prospects.
Uncertainty in France
Among the leading stock exchanges in Europe, it was mixed. The political uncertainty in France was again clearly visible on the Paris stock exchange, which fell nearly one percent.
The so-called PCE inflation in the USA decreased as expected to 2.6 percent in May, from 2.8 percent in April. The underlying PCE inflation also decreased.
Lower inflation in the USA can open up for the USA's central bank, the Federal Reserve (Fed), to lower interest rates, which in turn affects other central banks and risk appetite around the world.
