Stock market rising sharply as oil price plummets

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Stock market rising sharply as oil price plummets
Photo: Pontus Lundahl/TT

Among the index-heavy winners are mining group Boliden, up 5.4 percent, and engineering giant Sandvik, up 4.5 percent. But the rise is broad, with all 30 stocks in the OMXS30 index in the green.

Construction group Skanska rises 3.5 percent after a billion-dollar order in the US.

Stock market sentiment is strengthening after the price of oil fell to $90 per barrel, having traded above $119 overnight Monday.

It is also clearly up on leading European stock exchanges, and this points to an upward trend in futures trading on Wall Street, which closed up on Monday evening.

The turnaround comes after US President Donald Trump said he sees a quick end to a war with Iran.

The OMXS index, down 1.7 percent on Monday, has risen 2.2 percent since the turn of the year.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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