Stockholm stock market hits 6 year high

The Stockholm stock market reached a new high on Wednesday, breaking the previous index record more than six years ago. The OMXS index on Monday was up by 1.4 percent and closed at 430.6, breaking the record of 427.2 set in July 2007. Martin Guri, Nordea stock strategist was quoted by the Swedish TT news agency as saying that "there are many signs of economic improvements, and while economic growth may not be strong, risks have deteriorated, bolstering investor confidence." Analysts say such good performance can be attributed to a new World Bank forecast indicting advances in global economic growth. Wednesday at OMXS, Swedish heavyweights such as retailer H&M, bank Nordea, pharmaceutical firm AstraZeneca, telecom equipment maker Ericsson, and truck maker Scania, all rose by around 2 percent.