US Bailout Sees Stockholm Trade Boom
Trade on Stockholm’s stock exchange rose steeply on Monday morning after the US government rescue of two failing mortgage companies at the weekend.
TT news agency report a 4 percent rise in the OMXS-index with banks being the biggest gainers. SEB and Swedbank saw a 10 percent rise in just the first half an hour of trade.
Similar trends were seen in other European stock exchanges as well as on the Asian markets this morning.
Freddie Mac and Fannie Mae mortgage companies are responsible for half of all mortgages in the US and were put into temporary state ownership after months of speculation about their future.