Stocks in Sweden finished higher on Wednesday, with gains concentrated in Basic Materials, Industrials and Healthcare and the OMX Stockholm 30 ending the day up 2.83%.
The benchmark index registered a notable advance by the close in Stockholm. Among the largest contributors, Boliden AB (ST:BOL) was the top performer on the OMX Stockholm 30, climbing 7.22% - an increase of 35.40 points to finish at 525.40. Atlas Copco AB Class A (ST:ATCOa) gained 5.88%, or 10.30 points, to close at 185.45, while Sandvik AB (ST:SAND) rose 5.84%, adding 22.30 points to end the session at 404.10.
On the downside, NIBE Industrier AB ser. B (ST:NIBEb) led losses on the index, slipping 1.03% or 0.50 points to 45.30 at the close. Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) added 0.63%, or 0.70 points, finishing at 111.10, and Swedbank AB ser A (ST:SWEDa) was up 0.65% or 2.10 points to 327.60.
Market breadth on the Stockholm Stock Exchange favored advancing issues by a wide margin: 511 stocks rose, 243 fell and 61 ended unchanged.
Commodities showed mixed moves. Crude oil for June delivery declined 6.54% - a drop of $6.69 - to settle at $95.58 per barrel. Brent oil for July delivery fell 6.80%, or $7.47, to $102.40 a barrel. Precious metals moved higher, with the June Gold Futures contract gaining 2.82% - up $128.96 - to trade at $4,697.46 a troy ounce.
Currency pairs involving the krona moved modestly. EUR/SEK rose 0.20% to 10.85, while USD/SEK fell 0.30% to 9.24. The US Dollar Index Futures traded lower as well, down 0.45% at 97.87.
The session reflected concentrated strength among materials and industrial names, supported by several double-digit basis-point moves across large-cap stocks, while energy markets weakened sharply on the day and gold posted a significant gain.
What to watch
- Performance of Basic Materials, Industrials and Healthcare, which led the advance on the day.
- Significant decline in crude oil prices, with potential implications for energy-related stocks and broader sentiment.
- Currency moves in EUR/SEK and USD/SEK and a softer US Dollar Index Futures reading.
This report is limited to the data released for the trading session in Stockholm and the related commodity and currency moves reported at the close. No forward-looking claims are made beyond the prices and movements recorded at the close.