Stock Markets January 29, 2026

Swedish Shares Close Higher as Oil, Industrials and Tech Outperform

OMX Stockholm 30 inches up 0.13% as ABB, Boliden and Sandvik lead gains; banks lag

By Caleb Monroe
Swedish Shares Close Higher as Oil, Industrials and Tech Outperform

Sweden's equity market finished modestly higher on Thursday, with the OMX Stockholm 30 rising 0.13% at the close. Gains in the Oil & Gas, Industrials and Technology sectors powered the advance, led by strong moves in ABB, Boliden and Sandvik. Bank and telecom stocks underperformed, while commodity and currency markets showed mixed direction.

Key Points

  • OMX Stockholm 30 closed up 0.13% as gains in Oil & Gas, Industrials and Technology led the market.
  • Top performers included ABB (+8.37% to 764.20), Boliden (+2.99% to 654.00) and Sandvik (+2.22% to 354.10); all three hit all-time highs.
  • Financials and telecoms underperformed, with SEB down 6.76% to 189.00 and Nordea down 3.41% to 171.20; overall decliners outnumbered advancers 484 to 274.

Swedish equities closed slightly higher on Thursday as sector leadership concentrated in Oil & Gas, Industrials and Technology pushed the benchmark up. At the close in Stockholm, the OMX Stockholm 30 was up 0.13%.

The session's largest winners on the OMX Stockholm 30 were ABB Ltd (ST:ABB), which climbed 8.37% or 59.00 points to finish at 764.20; Boliden AB (ST:BOL), which added 2.99% or 19.00 points to close at 654.00; and Sandvik AB (ST:SAND), which gained 2.22% or 7.70 points to end the session at 354.10.

By contrast, several financial and telecom names lagged. Skandinaviska Enskilda Banken AB A (ST:SEBa) fell 6.76% or 13.70 points to close at 189.00, making it the session's weakest performer. Nordea Bank Abp (ST:NDASE) dropped 3.41% or 6.05 points to 171.20, and Telia Company AB (ST:TELIA) declined 1.89% or 0.77 points to finish at 39.98.

Market breadth was tilted toward declines: 484 stocks fell versus 274 that rose on the Stockholm Stock Exchange, while 62 issues finished unchanged.

Notably, shares in ABB Ltd rose to all-time highs on the day, advancing 8.37% to 764.20. Boliden AB and Sandvik AB also reached all-time highs, with Boliden up 2.99% to 654.00 and Sandvik up 2.22% to 354.10.

Commodity markets moved decisively during the session. Crude oil for March delivery increased 3.29% or 2.08 to trade at $65.29 a barrel. Brent oil for April delivery rose 2.91% or 1.96, reaching $69.33 a barrel. Meanwhile, the April Gold Futures contract fell 0.67% or 35.71 to trade at $5,304.49 a troy ounce.

Foreign exchange rates showed small shifts. EUR/SEK was unchanged at 10.55, while USD/SEK inched up 0.06% to 8.84. The US Dollar Index Futures declined 0.10% to 96.18.


The close left the market with a modest net gain for the main index but with uneven participation across sectors. While industrial and resource-related names moved higher and some reached record levels, several large banking and telecom stocks recorded substantial declines. Commodity and currency moves added further context to the session's price action.

Risks

  • Market breadth was weak: 484 stocks fell versus 274 that rose and 62 unchanged, indicating uneven participation across sectors - this affects broad market stability.
  • Significant declines in major bank shares, including SEB and Nordea, introduce uncertainty for the financial sector given their weight in the market.
  • Volatility in commodity prices - crude and Brent oil rose while gold futures fell - adds uncertainty for energy, industrial and precious metals markets.

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