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Sweden fears less about the impact of Cyprus

Sunday, 24 March 2013
If the Cypriot economy implodes as its financial crisis continues to drive, Sweden is not in any hurry to get worried.
Reactions in Sweden indicate that Swedish share investors need not worry about the crisis in Cyprus.
After a hefty impressive performance of the Stockholm stock exchange in the past two and a half months, the Stockholm market lost momentum last week partly driven by the financial and banking crisis situation in Cyprus.

The decline is similar to the situation in the past years, when the Greek crisis reduced the stock market by 15 percent in a few months. However, it's not expected that the situation this time will worry Swedish investors according to the Exchange Council panel.

"It has moved a little more than a while, but it'll have no big effects, and not at all on par with what we've seen before, "says Maria Landeborn, savings economist at Bank SBAB, according to Swedish business daily, Dagens Industri .

"Cyprus is really not important to the stock market, "says Jonas Olavi, equity strategist at Nordea Bank to the paper.
by Scancomark.com Team

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