economy

Stockholm makes a recovery

5:04 min

The Stockholm Stock Exchange recovered somewhat Friday afternoon – after dropping some 3 per cent earlier in the day as stock markets around the world continued to fall. Experts say the recovery came with signs that the troubled American market had suffered only minor losses.

Worst hit earlier were companies such as Volvo, Scania and Atlas Copco.

Analysts blame the financial worries on fears of a double-dip recession and the extremely complex current financial situation globally, reports news agency TT.

At Avanza Bank's economist , Claes Hemberg, told Radio Sweden that Thursday's drop of 6.2 percent in shares here was big news.

"It was one of the greatest drops that we have ever had. People are scared but I'm positive that it's not for the long term."