Stocks Gain on U.S. Jobs Data
May 19, 2011
The Affarsvarlden General Index rose 7.3 to 2026.6, while the general index climbed 7.3 to end the day at 2000.21. Advancing issues led decliners 69 to 55, while 52 shares remained unchanged. Total volume stood at 2.5 billion kronor worth of shares, compared with 3.27 billion kronor a day earlier. Stocks traded lower for much of the day in response to Wall Street's sharp decline on Thursday, but the losses were reversed after the release of the U.S. nonfarm payrolls figures for August, which provided few strong shocks to rattle Wall Street. As is often the case, telecommunications company L.M. Ericsson's shares were the most actively traded, accounting for about 470 million kronor of the market's total volume. The stock ended 1.50 kronor higher at 158.5, buoyed by strong demand from U.S. investors late in the session. The market's other bellwether blue chip, Astra, also finished stronger, up 1 krona at 278.5. Elsewhere, Pharmacia & Upjohn rose 1 krona to 284 after the company announced the launch of a new Nicorette inhalator product, adding to its line of smoke-cessation aids.
VastPress 2011 Vastopolis
