Stocks on the Stockholm exchange closed higher on Friday as sector gains in Telecoms, Healthcare and Oil & Gas underpinned a push to fresh highs for the benchmark. The OMX Stockholm 30 rose 0.55% to finish the session at a new all-time closing level.
On the day, Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) was the strongest performer inside the OMX Stockholm 30, climbing 2.90% - equal to a 2.95-point increase - to end at 104.55. The shares also reached a three-year high during the session.
Other leading names included Boliden AB (ST:BOL), which added 2.54% or 17.80 points to close at 717.40, and AstraZeneca PLC (ST:AZN), which rose 2.06% or 38.00 points to finish at 1,883.50.
Not all large caps participated in the rally. Skandinaviska Enskilda Banken AB A (ST:SEBa) declined 1.56% - a fall of 3.05 points - to 192.80 at the close. Private equity group EQT AB (ST:EQTAB) slipped 1.48% or 4.20 points to 280.10, while gaming firm Evolution AB (ST:EVOG) gave up 1.33% or 7.40 points to end the session at 548.40.
Market breadth on the Stockholm Stock Exchange favoured risers, with 421 stocks closing higher versus 321 that fell; 69 issues were unchanged.
Commodity markets were generally firmer. Crude oil for April delivery gained 2.04% - up $1.33 - to $66.54 a barrel, while Brent for May delivery increased 2.06% or $1.46 to $72.30 a barrel. In metals, the April Gold Futures contract rose 1.02% - a move of $53.00 - to trade at $5,247.20 a troy ounce.
Currency moves included a modest decline in EUR/SEK, which fell 0.06% to 10.66, and a drop in USD/SEK of 0.28% to 9.02. The US Dollar Index Futures eased 0.17% to 97.57.
The session closed with the benchmark index at a record level and notable divergence among large constituents, as energy and resource names helped offset weakness in parts of the financial and technology-related complex.
Summary
The OMX Stockholm 30 closed up 0.55% at a record level. Ericsson Class B, Boliden and AstraZeneca led gains, while SEB A, EQT AB and Evolution were among the laggards. Oil and gold prices rose and the Swedish krona showed small gains versus the euro and the US dollar.