Brexit rocket fuel for the stock market – Göteborgs-Posten

The Stockholm Stock Exchange has gone up by more than 12 percent since the British vote to leave the EU. Stock Photography. Photo: Jan-Erik Henriksson, TT

Finance Those who for years have followed the old stock market adage and bought herring for to sell to the crayfish have done good business. Stock prices have risen sharply over the summer.

– If there was anyone who jumped on to the sill, only to be congratulated. The development has been fantastic, says Joakim Bornold, savings economist at Nordnet.

Since midsummer, the Stockholm Stock Exchange made strong progress – even though Britain the same day created panic in world financial markets when it unexpectedly voted to leave the EU.

The first trading day after the vote, stock prices in and dramatically, but since then they have risen by more than 12 percent.

commodity companies winners

Especially good is the fate of commodity companies. For the entire sector, the upturn fallen over 32 percent just since the British referendum.

It can be explained by rising commodity prices, but also to the world’s central banks have signaled that they are ready with further stimulus.

– Metal prices have strengthened after brexit which obviously has pushed the shares. It is a response to a belief that central banks will do what is needed to stimulate the economy. This has meant that risk appetite has come back while the dollar has been relatively strong, says Ola Södermark, analyst at Swedbank.

ABG Sundal Collier’s basic industry analyst Olof Grenmark defuse while the percentage of large increase in the sector in the light of what levels the shares have risen from.

– prices fell a lot and these shares are volatile. There are rules of the game, he says.

“Initial optimism”

While talking Grenmark of optimism in the sector, not least in terms of commercial steel company SSAB.

– the image of the world is about to be flooded with steel from China and that it would see the night black out a very long time have started to be replaced by an incipient optimism. And if that’s not enough. China has also announced that it will cut back on their capacity.

The sector that have passed the worst of the companies engaged in automotive components, such as Autoliv and Mekonomen. Nevertheless, the sector as a whole increased by 2 percent.

Nordnet Joakim Bornold pleased to stock market performance, but TLV that it gives vent to the saying of the herring and crayfish.

– When it turns out, and turn in as early as it has done for years, so wake up the myth back to life.

Fact: The best and worst performing sectors

The best:

commodity companies (such as SSAB and Lumi): +32 percent.

Mining companies (such Lucara Diamond, Lundin Gold and Boliden): +27 percent.

Electronics (eg Fingerprint Cards, Sensys and Mycronic): +26.3 percent.

worst:

Automotive Components (such as Autoliv, Mekonomen, Haldex): +2 percent.

Consumer products (such as New Wave, Bjorn Borg, Oriflame and SCA): +3.15 percent.

Telecommunication (such as Millicom, Tele2 and Telia): +5.55 percent.

Source: Nordnet