The past week of Swedish business and finance has been quite eventful. Major changes within the Wallenberg sphere, a strong market performance for several large Swedish companies, and continued speculation on whether The Riksbank will raise or lower the policy rate are just some of the news from this past week.
* Christian Cederholm has been appointed President and CEO of Investor, effective from the next AGM, which takes place May 7th next year.
* Investor is the investment company of Sweden’s prominent Wallenberg family. It owns controlling holdings of several major Swedish companies.
* Cederholm has worked within the Wallenberg sphere and Investor since 2001, most recently as head of Patricia Industries.
* Several major Swedish companies have had significant positive market performances over the last week.
* Following major North American major orders for trucks, Volvo Group has reached its best performances ever.
* Ericsson has gone up several percentage points following a deal with AT&T worth 146 billion SEK.
Several Swedish banks have also performed well following rating upgrades.
* Following a raise of 0.25 percentage points in September and an unchanged rate in November, there is vast speculation on whether Riksbanken‘s policy rate will remain at 4 percent, be raised or even lowered in February next year.
* Analysts from SEB say that the minutes from the last Monetary Policy Meeting indicate that Riksbanken are not set on any future raises.
* Although the Governor of Riksbanken Erik Thedéen has suggested that future raises might be possible, Viktor Munkhammar from Dagens industri newspaper argues that the possibilities of future raises are next to zero.