Monday, June 27, 2016

Brexit-anxiety lowers the stock market – Västerbotten Courier

Economy. Stockholm Stock Exchange began with a race of 6 percent in Monday’s session due to concerns about the implications of a British EU exit. After 15 minutes of trading decline had slowed to 5 percent to 458.5.

The decline was broad, with all shares in OMXS30 index of minus.

Most of the downward force of gravity pulling Index H & amp; M’s and Nordea’s shares, falling by 6 and 6.4 percent.

Handelsbanken, with large exposure to the UK, plummeting by 8.6 percent.

another Swedish shares with high turnover in the UK construction group Skanska, whose shares plummeting by 6.9 percent.

the Swedish-British pharmaceutical group AstraZeneca is doing better, with a decline of 1.4 percent.

more stable in Europe

Course Falls on the Stockholm stock Exchange is significantly more powerful than the leading European exchanges, as the Swedish stock market had closed on Friday due to midsummer. Thus escaped Swedish shares Friday’s first shock wave after the British referendum last Thursday, where the British voted for brexit, ie an EU exit.

In Friday’s turmoil raged example, the Frankfurt Stock Exchange by almost 7 per cent and the Paris Stock Exchange by 8 percent. London Stock Exchange fell by over 3 percent.

In Monday’s opening trading falls the London Stock Exchange by 0.3 percent, while Frankfurt Stock Exchange pistes 0.4 percent. Paris Stock Exchange turned, however, after an initial drop of 1 percent on a slight increase.

Although the foreign exchange market became messy after the referendum, with negative price developments in the pound on the up 10 percent against both the dollar and the euro. Against the Swedish krona, the pound has since last Friday plummeted to about 11:40 kronor, the lowest exchange rate since the fall of 2014. That compares with a year high of SEK 12:61 at the beginning of the year.

At the same time, the krona has also taken a beating against both the dollar and the euro in the shock wave after the referendum. A dollar now costs SEK 8.50, while the euro is at 9:40 kronor in the currency market.

Short Swedish market has been pushed toward record lows, with a two-year interest rate of -0.63 percent.


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