Stockholm stock market falls as
Photo: Christine Olsson/TT

Stockholm stock market falls as oil prices surge on Middle East tensions

The Stockholm Stock Exchange fell on Thursday. Prices were pressured by the growing global AI boom and concerns about the effects of the oil price surge due to developments in the Middle East.

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The broad OMXS index had fallen 0.8 percent by the close.

Truck manufacturer Scania's owner Traton slowed the decline with a share price increase of 10.9 percent after an interim report with unexpectedly strong order intake.

At the other end, forestry company Stora Enso weighed on the index with a decline of 9.3 percent.

Among the losers among the most traded stocks were mining company Boliden, down 4.2 percent, and tissue manufacturer Essity, down 2.3 percent.

The price of North Sea oil (Brent) rose during the day by more than 7 percent to just over $100 per barrel, after the Iran-backed Houthi movement in Yemen shelled oil tankers in the Red Sea.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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