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ABB and Ericsson raised the Gothenburg Post Exchange



Ericsson's B share increased 4.8 percent to its highest level in almost four years. The price increase comes after the fifth-quarter telecom manufacturer exceeded market expectations in a row.

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Another winner was the ABB share, which rose by 5.4 percent after announcing that Ulrik Spiesshofer, the general manager of the workshop giant, resigned with immediate effect, replaced by President Peter Voser while the new CEO would not be in place.

Handelsbanken, the first among the main Swedish banks with a provisional quarterly report, won Ericsson's expectations as well as Ericsson. But, despite the discounted distribution for a profit sharing program for over 800 million SEK employees, the result was not so impressive. The share fell by 2.7 percent.

Stock market growth was somewhat strengthened by Chinese growth overnight, and industry figures for the first quarter ended more than expected, which jeopardized concerns about the sharp global economic crisis. At the same time, the German government halved the growth forecast for 2019 to 0.5 percent.

The two leading European stock markets rose, while the FTSE index in London was unchanged. The CAC40 index in Paris rose by 0.6%, and the DACS index in Frankfurt rose by 0.4%.


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