Stock trading in Stockholm ended the week on a down note, with the benchmark OMX Stockholm 30 falling 1.45% at the close on Friday. Sector weakness in Basic Materials, Industrials and Oil & Gas was the main driver of the decline.
Within the OMX Stockholm 30, EQT AB (ST:EQTAB) recorded the largest gain of the session, finishing up 2.99% - a rise of 8.10 points to close at 279.30. Telia Company AB (ST:TELIA) also advanced, adding 0.92% or 0.43 points to reach 47.12 at the close, while Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) rose 0.65% or 0.70 points to finish at 108.60.
On the downside, Sandvik AB (ST:SAND) posted the steepest drop among the index constituents, declining 6.31% or 24.00 points to end the session at 356.20. Epiroc AB Class A (ST:EPIRa) fell 4.01% or 10.00 points to 239.20, and Atlas Copco AB Class A (ST:ATCOa) was down 3.08% or 5.40 points to close at 169.90.
Market breadth was negative: 466 stocks fell on the Stockholm Stock Exchange while 276 advanced, and 50 shares finished unchanged.
Notable milestone moves included Telia Company AB reaching a five-year high as it climbed to 47.12, and Telefonaktiebolaget LM Ericsson Class B moving to a three-year high at 108.60.
Commodities and foreign exchange
Energy contracts were mixed but generally firmer: crude oil for April delivery gained 0.92% - up 0.88 to $96.61 a barrel. Brent oil for May delivery increased 0.64% or 0.64 to $101.10 a barrel. In metals, the April Gold Futures contract declined 1.39% - down 71.49 to trade at $5,054.31 a troy ounce.
On the currency front, EUR/SEK rose 0.33% to 10.80 and USD/SEK strengthened by 0.97% to 9.44. The US Dollar Index Futures was higher as well, up 0.61% at 100.36.
Implications for market participants
- Equity investors will note broad sector pressure led by Basic Materials, Industrials and Oil & Gas, reflecting the session's largest declines.
- Large-cap movers were mixed: select stocks delivered gains and reached multi-year highs even as the market overall retreated.
- Commodity and FX moves accompanied the equity sell-off, with oil prices higher and gold retreating, while the krona weakened against both the euro and the dollar.