OMXS30 closes 0.48 percent higher at 3,287.02 as oil prices fall
Published on 11/02/2026 at 19:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOMXS30 finishes higher after recovery
- The OMXS30 closed 0.48 percent higher at 3,287.02 on November 2, 2026.
- Falling oil prices and firmer European markets supported sentiment after the previous Friday's sell-off in US technology stocks.
- Basic resources led sector performance, while energy lagged; EQT and Boliden gained about 3.2 percent each, whereas Saab B fell 3.1 percent.
The OMXS30 ended the Stockholm session on Monday, November 2, 2026, at 3,287.02 points, up 0.48 percent. The index recovered during the afternoon after opening lower in the wake of the previous Friday's decline on US stock markets. The result was a positive close near the day's high, according to Placera. Turnover on the Stockholm exchange was about 24.1 billion Swedish kronor.
Oil prices support the recovery
Market sentiment received support from positive developments on other European exchanges and falling oil prices. The broader backdrop remained cautious, however, after a technology-driven sell-off on Wall Street on Friday. Reuters reported that European investors were also looking ahead to Apple earnings, the US midterm elections and upcoming economic data. The news agency said hopes for a deal to end the Iran war contributed to the sharp fall in oil prices.
The OMXS30 is Nasdaq Stockholm's leading share index and comprises 30 of the exchange's largest and most actively traded stocks, according to Nasdaq. Its close on November 2 therefore reflected a broad large-cap market recovery rather than a move in a single constituent.
Materials lead while energy lags
Basic resources was the strongest of the larger industrial sectors, rising 1.76 percent. Energy was the weakest sector, falling 4.24 percent. Among OMXS30 constituents, EQT and Boliden were the strongest named performers, each gaining about 3.2 percent. Saab B was the weakest, declining 3.1 percent, while Nordea lost 1.1 percent.
Company-specific developments also shaped individual moves. Volvo fell 0.3 percent after Citigroup lowered its recommendation from Buy to Neutral and cut its target price from 376 to 318 kronor, according to Placera. The stock-specific news did not prevent the broader index from finishing higher.
Index context for investors
The close represented a recovery from the intraday weakness rather than an uninterrupted advance. Investors were balancing pressure from recent US technology losses against support from lower oil prices and firmer European markets. The next session's direction will depend on whether that cross-market support persists alongside the week's US political, monetary-policy and earnings-related events.
Further coverage of the index is available on the OMXS30 topic page.
