Stock trading in Sweden ended the week on a softer note as the OMX Stockholm 30 closed down 0.12% on Friday. The market decline was led by pressure in the Financials, Basic Materials and Consumer Goods sectors, which collectively pulled the index lower by the close in Stockholm.
The session's strongest performers within the OMX Stockholm 30 included Hexagon AB ser. B (ST:HEXAb), which climbed 2.58% - adding 2.50 points to finish at 97.70. NIBE Industrier AB ser. B (ST:NIBEb) rose 2.29%, gaining 0.90 points to close at 39.80, and SAAB AB ser. B (ST:SAABb) advanced 1.75%, up 11.00 points to 638.70 late in the session.
On the downside, Evolution AB (ST:EVOG) was the worst-performing stock among the large-cap list, slipping 2.42% - a loss of 13.00 points - to end at 523.60. Banking names also weighed: Swedbank AB ser A (ST:SWEDa) declined 1.67% or 5.80 points to 340.50, and Svenska Handelsbanken AB A (ST:SHBa) fell 1.48% or 2.10 points to 139.65.
Through the trading day, decliners outnumbered advancers on the Stockholm Stock Exchange, with 396 stocks lower versus 348 higher, and 60 unchanged at the close.
Price action in individual names included a notable low for Evolution AB, which fell to a five-year low during the session, closing at 523.60 after the 2.42% drop.
Commodities showed a mixed picture: crude oil for March delivery eased 0.27% or 0.17 to $62.67 a barrel. Brent oil for April delivery was unchanged at $67.52 a barrel. Precious metals diverged, with the April Gold Futures contract registering a move higher of 1.70% or 84.11 to trade at $5,032.51 a troy ounce.
Currency moves included an uptick in the euro against the krona, with EUR/SEK rising 0.29% to 10.61, while USD/SEK moved up 0.36% to 8.94. The US Dollar Index Futures was marginally lower, down 0.02% at 96.82.
Summary
- OMX Stockholm 30 closed down 0.12% as losses in Financials, Basic Materials and Consumer Goods dominated.
- Hexagon AB ser. B, NIBE Industrier AB ser. B and SAAB AB ser. B were the session leaders; Evolution AB, Swedbank and Svenska Handelsbanken were among the largest decliners.
- Commodities and FX moved modestly: crude oil slipped, Brent was unchanged, gold futures rose sharply, and both EUR/SEK and USD/SEK strengthened.
Key points
- Market breadth favored losers, with 396 stocks down versus 348 up on the Stockholm exchange - an indication of wider distribution of declines across sectors.
- Financials exerted downward pressure on the index as major bank names fell, contributing to the overall negative finish.
- Notable stock-level extremes included Evolution AB falling to a five-year low during the trading session.
Risks and uncertainties
- Further weakness among Financials could continue to weigh on the OMX Stockholm 30 if bank shares remain under pressure.
- Volatility in commodities and currency pairs - highlighted by movements in crude, gold and EUR/SEK - may affect companies sensitive to input costs and foreign-exchange exposure.
- Individual stocks hitting multi-year lows, such as Evolution AB, introduce uncertainty for investors holding concentrated positions in those names.