Swedish shares ended Tuesday's trading session with broad gains concentrated in a handful of sectors, pushing the OMX Stockholm 30 to a fresh closing high. The index added 0.65% at the close in Stockholm, marking a new all-time peak.
Sector performance was led by Telecoms, Oil & Gas and Financials, which contributed to the upside across the market. Within the OMX Stockholm 30, the largest percentage advances were recorded by several industrial and technology-linked names.
- Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) rose 4.08%, gaining 3.88 points to finish at 99.00. The share price moved up to a three-year high on the session.
- Epiroc AB Class A (ST:EPIRa) climbed 3.15%, adding 7.70 points to end at 252.40, reaching an all-time high at the close.
- ABB Ltd (ST:ABB) increased 2.14%, up 14.80 points to 707.40.
Not all large-cap names participated in the rally. The most notable declines on the OMX Stockholm 30 included:
- NIBE Industrier AB ser. B (ST:NIBEb), down 3.16% or 1.10 points to trade at 34.30 at the close.
- Atlas Copco AB Class A (ST:ATCOa), which fell 1.94%, a decline of 3.70 points to 186.60.
- Svenska Cellulosa SCA AB B (ST:SCAb), down 1.28% or 1.50 points to 115.30; the share moved to a five-year low on the session.
Market breadth was negative despite the index-level gain: falling stocks outnumbered advancing ones on the Stockholm exchange by 432 to 321, with 63 issues unchanged at the close.
Several individual stock milestones were recorded during the session. Ericsson reached three-year highs at 99.00, Epiroc set a new all-time peak at 252.40, and Svenska Cellulosa SCA AB B hit a five-year low at 115.30.
Commodities and currency markets showed notable movement alongside equities. Crude oil for March delivery rose 2.09%, up $1.27 to $61.90 per barrel. Brent oil for April delivery gained 1.84%, adding $1.19 to settle at $65.96 a barrel. April gold futures were quoted at $5,122.50 a troy ounce, showing an increase of 0.00% or $0.20 on the day.
In FX trading, EUR/SEK declined 0.35% to 10.57, while USD/SEK fell 1.18% to 8.82. The US Dollar Index Futures was lower as well, down 0.81% at 96.07.
With the benchmark index closing at a new high and sector leadership concentrated in telecoms, energy and financials, market participants will be watching whether rising commodity prices and currency moves continue to influence sector performance in the near term.