Stock trading in Stockholm ended the session on a softer note, with the OMX Stockholm 30 retreating 0.48% at the close. Selling pressure was concentrated in Basic Materials, Financials and Healthcare, which together helped lift the number of falling issues above advancing ones.
Top and bottom movers
- ABB Ltd (ST:ABB) closed as the best performer on the OMX30, rising 1.26% (10.40 points) to finish at 834.60.
- Sandvik AB (ST:SAND) added 0.33% (1.30 points) to end the day at 394.60.
- Atlas Copco AB Class A (ST:ATCOa) was up 0.14% (0.30 points) to 178.00.
- On the downside, Volvo, AB ser. B (ST:VOLVb) was the session's weakest stock, sliding 3.07% (10.20 points) to close at 322.40.
- Skandinaviska Enskilda Banken AB A (ST:SEBa) fell 1.76% (3.20 points) to 178.90.
- Svenska Cellulosa SCA AB B (ST:SCAb) dropped 1.73% (1.90 points) to finish at 108.10.
Market breadth and activity
Decliners outpaced advancers on the Stockholm exchange by 394 to 350, while 55 issues finished unchanged. The distribution of winners and losers reflected the uneven sector performance that pressured the OMX30 lower by nearly half a percent.
Commodities and currencies
Commodities showed notable strength during the session. Crude oil for May delivery climbed 4.94% (4.66) to settle at $99.07 a barrel, while Brent for June delivery rose 1.92% (1.82) to $96.57 a barrel. Precious metals also advanced, with the June Gold Futures contract up 0.84% (40.31) to trade at $4,817.51 a troy ounce.
In foreign exchange trading, EUR/SEK ticked higher by 0.05% to 10.86 and USD/SEK moved lower by 0.31% to 9.28. The US Dollar Index Futures registered a decline of 0.38%, trading at 98.55.
Takeaway
The net result for the day was a modest decline for Sweden's headline index, with a handful of large-cap industrials posting gains while several major names in autos, banking and pulp and paper bore the brunt of the losses. Commodities and FX markets showed moving prices that accompanied the equity weakness.