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Swedish Stocks Climb as Ericsson Surges; OMX 30 Gains 1.33%
Swedish stocks finished the trading day higher on Thursday, with the benchmark OMX Stockholm 30 index posting a solid gain. The rally was supported by strong performances in the telecommunications, basic materials, and financial sectors, according to market data from the close.
Market Performance
At the close in Stockholm, the OMX Stockholm 30 index advanced by 1.33%. The positive sentiment was reflected across the broader market, as advancing stocks on the Stockholm Stock Exchange outnumbered decliners by a margin of 467 to 246, while 79 issues ended the session unchanged.
Sector Leaders and Laggards
The session's top performer on the blue-chip index was telecommunications equipment maker Ericsson (ST:ERICb), which saw its shares surge by 6.70%. Other notable gainers included:
- Mining and smelting company Boliden AB (ST:BOL), which climbed 4.42%.
- Investment firm EQT AB (ST:EQTAB), which added 3.48%.
AdOn the downside, pharmaceutical giant AstraZeneca PLC (ST:AZN) was the index's worst performer, with its shares falling 7.41%. Defense and security company SAAB AB (ST:SAABb) also declined, losing 3.75%.
Currency and Commodity Context
In currency markets, the Swedish krona strengthened against the U.S. dollar, with the USD/SEK pair falling 0.42% to 9.65. The krona also gained slightly on the euro, as the EUR/SEK pair dipped 0.20%.
Global commodity markets showed a mixed picture. Crude oil prices fell, with Brent crude for September delivery down nearly 2% to $76.47 a barrel. In contrast, precious metals gained, as August gold futures rose 1.36% to $4,137.72 a troy ounce.