Why did SEB fall on 6 October?
Written after the close on
SEB −0.99% · OMX Stockholm 30 +0.99%
SEB fell sharply as its CEO resigned. Over the last five trading days, SEB declined noticeably while the Stockholm market was roughly flat, and in the latest session it fell sharply even as the market rose. The most likely driver is the surprise resignation of CEO Johan Torgeby for personal and family reasons, with deputy CEO Jonas Ahlström named interim CEO; the bank also kept buying back its own shares, which usually supports the price, and the regulator trimmed its extra capital requirement, a mild positive. Watch the third-quarter report in late October, the first test for the new interim leadership.
Next report: · Add to calendar · Google Calendar