Stockholm Stock Exchange closed higher after initial sharp rise slowed

Stock markets around the world rose after the announcement that Iran and the United States had tentatively reached an agreement that includes reopening the Strait of Hormuz later this week.

The Stockholm Stock Exchange was up around 2 percent early on, before caution increased.

On the OMXS30 list of most-traded stocks, mining giant Boliden rose 7.1 percent.

Engineering companies SKF and Sandvik climbed 3.2 and 2.6 percent, respectively.

At the other end, telecom operator Telia and defense group Saab fell 4.2 and 3.6 percent, respectively.

At the close in Stockholm, the exchanges in Frankfurt and Paris had risen, while London had fallen. In New York, all three indices were clearly higher.

A barrel of North Sea oil cost $83.10 after a decline of 4.9 percent during the day.