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Stockholm Fed Number Cut – SKF Sole Winner in OMXS30

Stockholm Fed Number Cut – SKF Sole Winner in OMXS30

The Stockholm Stock Exchange was trading lower ahead of Jerome Powell’s speech at Jackson Hole and the decline increased significantly after some bitter pills from the Federal Reserve Chairman. On closing, it looked like this:
• OMXSPI: –2.0%
• OMXS30: -1.6%
Jerome Powell, among other things, warned of “some pain” for households and businesses when interest rates are raised. Powell also mentioned that history speaks strongly against easing monetary policy too early. After initially hesitating, Wall Street plummeted after the speech – thus Stockholm caught on.

Christer Gardell’s Cevian Activist Fund was raised during the day SKFShe is now one of the company’s three largest owners. Gardel sees “great long-term value potential” in the ball bearing giant. The stock is up 3.7 percent on the all-red OMXS30.

sass Revenue doubled at the same time as losses erupted last quarter, with pilot strike costs reaching SEK 1.4 billion. The stock closed up 0.4 percent.

Among other reporting companies alike FM Matson And the smart eye Increasing revenue but declining results. FM Matson shares rose 2.6 percent, while Smart Eye fell 6.4 percent.

Vestum It rose 23.5 percent after showing strong growth.

storytel It rose 1.2 percent after the appointment of Johannes Larcher of HBO Max as its new CEO.

uncopeptide It fell 15.3 percent during high turnover, with no news known.

H&M It fell sharply yesterday after a negative analysis from Jefferies. During the morning, other research houses lowered their target prices. The stock continued to decline 4.5 percent.

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also Evo And the Kenifique It remained at the bottom with declines of 4.6 percent and 5.6 percent, respectively.

New York Stock Exchange yesterday
• Dow Jones: +1.0%
• Nasdaq: +1.7%
• Standard & Poor’s 500: +1.4%

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