Following a hesitant opening on Friday, the Stockholm Stock Exchange turned downwards in morning trading – and after lunch, the decline accelerated. The broad OMXS index closed at minus 1.3 per cent.
The major European stock exchanges also fell, with the Paris Stock Exchange plummeting by around 3 per cent, amidst the political turmoil with new elections looming in France.
Among the heavyweight stocks, industrial giants Alfa Laval, Autoliv, SKF, Electrolux, and Sandvik fell between 3.5 and 2.7 per cent. At the other end, fashion giant H&M rose 2.4 per cent following a buy recommendation from a brokerage firm.
In the morning, property company Logistea announced a major deal, the acquisition of Norwegian KMC, and its share price rose 3.1 per cent.
Inflation in Sweden fell less than expected in May, according to statistics released in the morning. The krona weakened against the dollar by 3-4 öre to 10.53. Against the euro, the krona weakened slightly, costing 11.27 at the close of trading.
The OMXS index fell 2.1 per cent over the past week. However, since the start of the year, the Stockholm Stock Exchange has risen 7.6 per cent.
