Stocks in Sweden finished the session stronger on Wednesday, driven by sector-level gains in Basic Materials, Oil & Gas and Financials that helped push the benchmark index to a fresh record.
At the close in Stockholm, the OMX Stockholm 30 rose 1.15% to record a new all time high.
Leading the index were Boliden AB (ST:BOL), SAAB AB ser. B (ST:SAABb) and EQT AB (ST:EQTAB). Boliden recorded a 4.61% gain, up 29.00 points to finish at 657.40. SAAB B advanced 4.17%, adding 26.20 points to end at 653.80. EQT rose 3.80%, or 11.20 points, to close at 305.90.
On the downside, H & M Hennes & Mauritz AB B (ST:HMb) was the weakest on the index, falling 2.31% or 4.40 points to 184.00 at the close. NIBE Industrier AB ser. B (ST:NIBEb) declined 1.45% or 0.60 points to end at 39.40, while Tele2 AB (ST:TEL2b) slipped 0.76% or 1.45 points to 188.20.
Market breadth on the Stockholm Stock Exchange favored advancers. Rising issues outnumbered decliners by 411 to 323, and 73 stocks finished unchanged.
Commodities traded strongly alongside the equity gains. Crude oil for April delivery rose 3.63% or 2.26 to $64.52 a barrel. Brent crude for April delivery climbed 3.43% or 2.31 to $69.73 a barrel. April Gold Futures also moved higher, up 2.36% or 115.74 to trade at $5,021.64 a troy ounce.
Currency moves were modest but notable for exporters and importers. EUR/SEK strengthened 0.20% to 10.63, while USD/SEK was up 0.56% to 9.00. The US Dollar Index Futures rose 0.37% to 97.42.
Summary - The Stockholm market closed higher with the OMX Stockholm 30 reaching a record level. Materials, energy-related names and financials outperformed, while selected consumer and industrial names lagged. Commodity prices climbed, and the krona weakened slightly against major currencies.