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The main European exchanges are returning as Stockholm, although not as much. But the loss comes after some very strong weeks in the stock market in late April.
– Last week, signs emerged that things were going up a bit without improving the underlying economy. At the time, many people chose to sell, which was triggered by Trump’s actions, says Martin Guri, a stock strategist at Kepler Cheuvreux.
Purchasing manager index fell
During a press conference on Friday, the President of the United States claimed that the coronavirus could have come from a laboratory in China, a move that was later repeated by both him and Foreign Minister Mike Pompeo.
On Monday morning, more bad news as the purchasing manager index for Sweden’s manufacturing industry continued to drop, hitting 36.7. Two months ago, the figure was 52.7.
– This will be a few more months, but it is worth remembering that China was at the lowest level two months ago. They are now back in their 50s, says Martin Guri.
TT: What is the advice for the little saver in this turbulent stock market situation?
– Always maintain a long-term focus. Today, it makes sense to buy if it’s long term. When it was worse in April, they probably made the best purchases in a long time, says Martin Guri.
Big decline
The recession on the Stockholm Stock Exchange is wide among large companies with 29 out of 30 companies in the negative sign, and most companies on the list of the most traded stocks are down more than four percent.
Steel giant SSAB is the biggest loser on the stock market and backs 7.4 percent, followed by big bank SEB 6.5 percent. Auto safety giant Autoliv is down 6.8 percent and clothing giant H&M is down 6.0 percent.
The tobacco company Swedish Match is against the current one, increasing 1.6 percent.
