The Stockholm Stock Exchange's large-cap index OMXS30 is up 0.8 percent. EQT leads the index after a report that lifts it 4 percent. Savings favorite Investor also rises on its report and is up 0.9 percent. Essity bucks the trend, falling 6.4 percent after its report.
On Wall Street, futures are pointing up again after stocks closed higher last night.
"It's a very big sigh of relief," says Robert Bergqvist at SEB.
The gains come after US President Donald Trump toned down his rhetoric about Greenland on Wednesday, including in his speech in Davos.
“Extremely high stakes”
"It was a complete turnaround. He took a few steps back, not least when it comes to using military means. But it is also important that he backs down on tariffs for the time being," says Bergqvist.
Stock markets are reacting positively to the fact that both geopolitical and trade-policy risks have decreased.
"There were extremely high stakes in this trade war - they were starting to lay claim to other countries," says Bergqvist.
However, he emphasizes that no one seems to know exactly what could be included in a possible agreement on Greenland and that many analysts are still trying to interpret the situation.
"In recent days, we have felt a growing anxiety and a lump in our stomach about where this is going, and now it seems like we are going backwards anyway."
"But we are dealing with Trump after all, so the uncertainty will remain."
Modifying his message
According to Robert Bergqvist, it is clear that Donald Trump is not immune to what is happening in the stock market, with interest rates and with the dollar.
"He modifies his messages and takes steps back. It is a given conclusion, confirmed again, that he is reacting to market reactions."
He also thinks there is a common thread when it comes to Trump's actions regarding rare earth metals, even though Trump said in his speech that the claim to Greenland is not about that but about security.
"He still mentions that it could be included in an agreement. I think you can take from that that for him it is extremely important to ensure the US will have access to rare earth metals in the future."
