Stocks in Sweden finished the trading day higher on Thursday, supported by strength in Industrials, Technology and Consumer Services. The OMX Stockholm 30 closed up 0.55% in Stockholm.
Leading the benchmark's gains were Skanska AB ser. B (ST:SKAb), ABB Ltd (ST:ABB) and H & M Hennes & Mauritz AB B (ST:HMb). Skanska rose 2.63% or 6.50 points to finish at 253.90. ABB added 2.47% or 25.00 points to close at 1,037.50, moving to an all-time high in the session. H&M increased 2.38% or 4.00 points to end trading at 170.20.
Not all names participated in the rally. EQT AB (ST:EQTAB) was the weakest member of the OMX Stockholm 30, falling 3.29% or 9.40 points to close at 276.20. Boliden AB (ST:BOL) slipped 2.57% or 15.00 points to end at 569.00, and Hexagon AB ser. B (ST:HEXAb) declined 2.02% or 1.68 points to trade at 81.56 at the close.
Market breadth on the Stockholm exchange showed more falling issues than advancing ones, with 461 stocks declining and 274 advancing. A further 73 shares finished unchanged.
Commodities moved lower during the session. Crude oil for July delivery fell 2.55% or 1.96 to $74.83 a barrel. Brent oil for August delivery was down 2.21% or 1.76, settling at $77.79 a barrel. In metals trading, the August Gold Futures contract dropped 2.99% or 130.95 to trade at $4,250.45 a troy ounce.
Currency crosses involving the krona also shifted. EUR/SEK rose 0.49% to 10.98, while USD/SEK was up 0.77% to 9.58. The US Dollar Index Futures was reported higher by 0.66% at 100.53.
Summary
The OMX Stockholm 30 finished the day up 0.55%, propelled by gains in Industrials, Technology and Consumer Services. Skanska, ABB and H&M were among the session's top performers, while EQT, Boliden and Hexagon posted the largest declines. The session also saw weaker commodity prices and a firmer dollar against the krona.
Key points
- OMX Stockholm 30 rose 0.55% at the close, with Industrials, Technology and Consumer Services leading.
- Top performers included Skanska (up 2.63%), ABB (up 2.47% to an all-time high) and H&M (up 2.38%).
- Commodities traded lower - July crude, August Brent, and August gold futures all posted declines; EUR/SEK and USD/SEK both moved higher.
Risks and uncertainties
- Market breadth was negative with 461 decliners versus 274 advancers, which could signal uneven participation across sectors.
- Significant declines in commodity prices - including crude and gold - may introduce volatility for resource-linked names and related sectors.
- Currency moves, with both EUR/SEK and USD/SEK higher, could affect exporters and import-sensitive companies with krona exposure.