The Swedish equity market finished on a positive note Friday, as the OMX Stockholm 30 index rose by 0.35% at the close of trading in Stockholm. Broad gains were propelled by the Telecoms, Oil & Gas, and Basic Materials sectors, which drove overall investor confidence throughout the session.
Leading the day’s performers in the OMX Stockholm 30 was Telefonaktiebolaget LM Ericsson Class B, which surged by 10.52%, or 9.02 points, closing at 94.80. This significant increase underscores lifting momentum in the telecom sector. SAAB AB Series B also saw appreciable gains, adding 3.95% or 27.30 points to finish at 718.80. Meanwhile, Boliden AB continued its upward trajectory, advancing 2.70% or 16.00 points to close at a new all-time high of 608.20.
Contrasting with these gains, a few prominent names in the financial sector experienced declines. EQT AB dropped 2.30%, losing 8.60 points to settle at 366.10 at the closing bell. Swedbank AB Series A decreased by 1.95%, or 6.80 points, ending the day at 342.50. Nordea Bank Abp saw a modest pullback of 1.75%, shedding 3.15 points to close at 176.35. Overall market breadth showed 395 advancing stocks, 336 decliners, and 77 unchanged issues on the Stockholm Stock Exchange.
Commodity markets showed pronounced strength, with crude oil futures for March delivery rising 2.68%, or $1.59, to $60.95 per barrel. In parallel, Brent oil contracts for the same month climbed 2.59%, increasing by $1.66 to $65.72 per barrel. Gold prices also reflected heightened demand, with February futures gaining 1.45%, or $71.41, to trade at $4,984.81 per troy ounce.
Currency markets exhibited minor fluctuations as well, with the euro rising 0.09% against the Swedish krona to 10.59 EUR/SEK, while the U.S. dollar weakened 0.13% versus the krona to trade at 8.99 USD/SEK. The U.S. Dollar Index futures declined by 0.43%, settling at 97.75.
This session’s performance underscores how specific sectors such as telecommunications and energy can drive market movement, while banking sector stocks today faced downward pressure. Commodity price advances in oil and gold likely contributed to the positive market sentiment in related industries.