The Stockholm stock market takes a significant step up after the news from the USA and China that the trade war between the countries will be put on hold for 90 days and that existing tariffs will be lowered during that time.
The leading European stock exchanges are also rising, and trading indicates that Wall Street will open sharply up, with semiconductor and smartphone manufacturers being big winners.
By lunchtime, the Stockholm stock market's broad index is up 2.8 percent.
The best climbers at the start are the engineering companies Sandvik and Atlas Copco, both up 6.7 percent, followed by the appliance giant Electrolux with a plus of 6.3 percent.
The defense group Saab, in good company with Europe's other defense companies, is falling 3.5 percent after reports over the weekend of potential upcoming talks between Russia and Ukraine.
During the night, the US President Donald Trump made promises that prescription drugs would become cheaper in the USA and more expensive in other parts of the world. No further details were given on how this would be done, but the pharmaceutical company Astra Zeneca's share is falling 2.8 percent in Stockholm and on the Copenhagen Stock Exchange, the insulin manufacturer Novo Nordisk is falling 4.0 percent.
The dollar has strengthened against most currencies, including the Swedish, after the news of the paused trade war. One dollar costs 9.81 kronor at lunchtime.
The price of gold, which has risen steadily since the US President Donald Trump began his trade war in early April, is now moving in the opposite direction and falling. An ounce of gold now costing 3,218 dollars.
