Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

The Stock Exchange Fell – Weak US Figure Weighed

The Stockholm stock exchange continued to fall on Thursday for the fourth day in a row. The broad OMXS index fell by 0.8 per cent. An unexpectedly weak jobs figure from the USA contributed to the decline.

Published: 05 September 2024
The Stock Exchange Fell – Weak US Figure Weighed
Photo: Erik Simander/TT

Industrial companies weighed the most among the most traded stocks in the OMXS30 index, with price falls for Atlas Copco and Alfa Laval of 2.5 and 2.2 percent, respectively.

Other heavy losers were the Wallenberg sphere's power company Investor, down 2.5 percent, and pharmaceutical company Astra Zeneca, down 3.4 percent.

Among others, the major banks went against the trend. Best in the OMXS30 was Swedbank, which increased 2.1 percent.

Car manufacturer Volvo Cars rose 0.7 percent after an unexpectedly strong sales figure for August and an adjustment of the company's financial targets.

Telecom operator Tele2 rose 0.9 percent after the announcement that CEO Kjell Johnsen is leaving.

The stock market downturn accelerated after payroll administrator ADP reported an unexpectedly weak job figure for the private sector in August in the USA. This gives a gloomy forecast for the labor market in the USA ahead of the major job figure for the entire economy, excluding the agricultural sector, on Friday.

The Stockholm stock exchange has started September weakly and has fallen 2.3 percent this week, but since the turn of the year, the OMXS index is up 7.3 percent.

Places
People
Organisations
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Microsoft revives shut-down nuclear power plant
1 MIN READ

Microsoft revives shut-down nuclear power plant

Belarusian Billion Loss for Major Bank
1 MIN READ

Belarusian Billion Loss for Major Bank

German Minister Considers Support for the Car Industry
1 MIN READ

German Minister Considers Support for the Car Industry

Ingrosso's Company Fined for Toxic Makeup
1 MIN READ

Ingrosso's Company Fined for Toxic Makeup

Ryanair banned from charging for cabin bags
1 MIN READ

Ryanair banned from charging for cabin bags

Topdanmark Applies for Delisting
1 MIN READ

Topdanmark Applies for Delisting

Downturn for Dr Martens
1 MIN READ

Downturn for Dr Martens

Ratos company refocuses towards electrification
1 MIN READ

Ratos company refocuses towards electrification

The title in English is: Share price fall for Mercedes after profit warning
1 MIN READ

The title in English is: Share price fall for Mercedes after profit warning

British pound more expensive after retail boost
1 MIN READ

British pound more expensive after retail boost

Unexpected increase in German producer prices
1 MIN READ

Unexpected increase in German producer prices

The stock market turns slightly downward
2 MIN READ

The stock market turns slightly downward

Chinese interest rates remain unchanged
1 MIN READ

Chinese interest rates remain unchanged

Northvolt fires migrant workers on day one
1 MIN READ

Northvolt fires migrant workers on day one

Major Banks Lower Floating Mortgage Rates
1 MIN READ

Major Banks Lower Floating Mortgage Rates

Still tough for retail
1 MIN READ

Still tough for retail

The warning: This is how expensive the euro can become next year
2 MIN READ

The warning: This is how expensive the euro can become next year

Smooth Sailing on Asian Markets
1 MIN READ

Smooth Sailing on Asian Markets

Japan leaves interest rate unchanged
1 MIN READ

Japan leaves interest rate unchanged

YouTube wants to show more ads when you pause
1 MIN READ

YouTube wants to show more ads when you pause