Trading off to shaky start
TT/The Local - [email protected]
Published: 27 Oct, 2008 CET.
Updated: Mon 27 Oct 2008 09:46 CET
The Stockholm stock exchange saw a turbulent opening to the new week on Monday with stocks down 5 percent after just 15 minutes of trading.
Swedbank plunged 13 percent on news that it was to issue fresh shares to the tune of 12.4 billion kronor ($1.55 billion).
Carnegie was down 14 percent by 9.30am after the Riksbank announced on Monday it would provide one billion kronor ($124 million) in special liquidity assistance to the beleaguered investment bank.
Shares in Electrolux bucked the trend following a slow start, jumping 2.8 percent in early trading after the white goods giant posted a third quarter report with profits higher than anticipated.
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Swedbank plunged 13 percent on news that it was to issue fresh shares to the tune of 12.4 billion kronor ($1.55 billion).
Carnegie was down 14 percent by 9.30am after the Riksbank announced on Monday it would provide one billion kronor ($124 million) in special liquidity assistance to the beleaguered investment bank.
Shares in Electrolux bucked the trend following a slow start, jumping 2.8 percent in early trading after the white goods giant posted a third quarter report with profits higher than anticipated.
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