Sweden's OMX 30 Hits New All-Time High on Gains

Swedish Index Reaches Record High at Close

The OMX Stockholm 30 index concluded Friday's trading session with a 0.08% gain, establishing a new all-time high. The upward momentum was primarily driven by strong performances in key sectors.

Market Overview and Key Movers

Gains were led by the Oil & Gas, Technology, and Industrials sectors. Among the top performers on the OMX Stockholm 30 were SAAB AB ser. B, which rose 1.75% to 707.80, and Atlas Copco AB Class A, adding 1.65% to finish at 191.10. ASSA ABLOY AB ser. B also saw a significant increase of 1.46%, closing at 374.80. Both SAAB and ASSA ABLOY shares reached new record highs during the session.

Economic and Market Impact

Despite the index's record close, market breadth was negative, with 389 stocks declining compared to 346 advancers. The session's worst performers included Boliden AB, which fell 3.90%, and Hexagon AB ser. B, which declined by 1.39%, indicating that gains were not widespread across the entire market.

Summary

While the broader market showed mixed results, strong gains in major industrial and technology stocks were sufficient to propel the OMX Stockholm 30 to a new peak. This suggests targeted strength within the Swedish market despite wider selling pressure.

FAQ

Q: Which Swedish stock index hit a new record?
A: The OMX Stockholm 30 index reached a new all-time high, closing up 0.08%.

Q: What were the best-performing sectors?
A: The Oil & Gas, Technology, and Industrials sectors led the gains.

Source: Investing.com