At closing, Stockholm's broad OMXS index had fallen 0.1 percent after very volatile trading.
But the start was much darker, with a decline of 1.3 percent. Then the climb began and a couple of hours before closing the index was just above the border of positive territory, before turning around again.
A significant factor in the recovery is believed to have been that John Williams, one of the top officials at the US Federal Reserve (Fed), said he saw room for more interest rate cuts soon.
Saab sank
This caused the New York Stock Exchange to point upwards and pull other markets with it, and at the close in Stockholm all three leading indices in New York were in the red, while there were losses on the major European stock exchanges in Frankfurt, London and Paris.
When the smoke cleared in Stockholm, SCA was the best performer on the OMXS30 list of the most traded stocks. The forestry company rose 2.3 percent after major bank Barclays removed its sell signal. Tissue company Essity also had a fairly good day, up 1.8 percent.
In the opposite direction, defense group Saab stood out, down 4.6 percent, and mining giant Boliden, down 2.3 percent.
Kinnevik steps
Clothing company H&M announced that it will begin a share buyback program, something that traditionally boosts the share price. The stock rose 0.6 percent.
On Thursday evening, the news came that Georgi Ganev, CEO of the Stenbeck Circle's power company Kinnevik, was leaving. The market obviously viewed the news positively and the share rose 4.1 percent.
One of the day's big losers was Lundin Gold, which fell 2.9 percent, due to insider selling within the company and the falling price of gold.
Including Friday's decline, the Stockholm Stock Exchange has fallen 2.3 percent during the week as a whole.
