Stocks in Sweden moved lower by the end of trading on Tuesday, with several sector groups, notably Basic Materials, Industrials and Financials, contributing to the downward pressure on the market.
At the close in Stockholm, the OMX Stockholm 30 was down 2.70%.
Top and bottom movers
Among the index constituents, Svenska Cellulosa SCA AB B (ST:SCAb) was the session's strongest performer, advancing 0.43% - equal to 0.50 points - to finish at 118.10. By contrast, Evolution AB (ST:EVOG) slipped 0.18% or 1.00 points to close at 546.00, while SAAB AB ser. B (ST:SAABb) lost 1.00% or 6.50 points to end the day at 644.20.
The weakest names included NIBE Industrier AB ser. B (ST:NIBEb), which fell 6.72% or 2.60 points to trade at 35.70 at the close. Boliden AB (ST:BOL) declined 5.57% or 38.40 points to finish at 650.60, and Addtech (ST:ADDTb) dropped 3.75% or 12.20 points to 313.00.
Market breadth
Decliners outnumbered advancers across the Stockholm Stock Exchange by a wide margin: 635 stocks fell while 134 advanced, and 53 were unchanged.
Commodities and currencies
Energy futures strengthened during the session. Crude oil for April delivery rose 6.85% - an increase of 4.88 - to $76.11 a barrel. Brent oil for May delivery gained 6.86% or 5.33, reaching $83.07 a barrel. Precious metals moved in the opposite direction, with the April Gold Futures contract falling 3.91% or 207.65 to trade at $5,103.95 a troy ounce.
Currency pairs involving the Swedish krona showed gains for the euro and the US dollar. EUR/SEK climbed 0.69% to 10.77, while USD/SEK increased 1.54% to 9.29. The US Dollar Index Futures were up 0.88% at 99.20.
Takeaway
The session closed with broad weakness across the Stockholm market, driven by losses in several major sectors and accompanied by notable moves in oil, gold and currency markets. Market breadth was heavily skewed toward declining issues.