Sweden Index Trading Strategy (OMX30) — What Is It?

Last Updated on July 30, 2022 by Oddmund Groette

Sweden has a vibrant stock market, with many interesting companies like AstraZeneca, Atlas Copco AB, and Ericsson. You can track the performance of the Swedish market with the OMX Stockholm 30 and OMX Stockholm PI indexes.

OMX Stockholm PI is the composite index of the Swedish stock market, consisting of all the shares listed on OMX Nordic Exchange Stockholm. OMX Stockholm 30, on the other hand, is an index of the 30 largest companies on the Swedish stock market.

Let’s take a look at the indexes and some of their biggest stocks.

What is the stock index of Sweden?

The Swedish stock market is very vibrant, with many indexes tracking the various segments of the market, including the OMX Stockholm PI, OMX Stockholm 30, OMX Nordic 40, OMX Stockholm Mid Cap, OMX Stockholm Small Cap, and so on. In this post, we will focus on the first two.

OMX Stockholm 30

The OMX Stockholm 30 Index is a major stock market index for the Stockholm Stock Exchange. It tracks the performance of the 30 largest stocks by market capitalization on the Nasdaq Stockholm Stock Exchange.

The OMX Stockholm 30 Index started on 30 Sep 1986, with a base value of 125. The index has been split by 4 on April 27, 1998. It is a free float, capitalization-weighted index.

OMX Stockholm PI

The OMX Stockholm PI is the all-share index of the Stockholm Stock Exchange. It includes all the shares listed on OMX Nordic Exchange Stockholm. The aim of the index is to reflect the current status and changes in the market and is available as PI.

The base date for the index is December 31, 1995, with a base value of 100. The index is available as PI.

What are the top 5 stocks in the OMX 30 Index?

The top 5 stocks in the OMX Stockholm 30 include the following:

  1. AstraZeneca PLC (AZN)
  2. Investor B (INVEB)
  3. Abb Ltd. (ABB)
  4. Atlas Copco (ATCOA)
  5. Hexagon AB (HEXAB)

AstraZeneca PLC (AZN)

AstraZeneca PLC is a world-renowned biopharmaceutical company. It focuses on the discovery, development, production, and supply of drugs and other pharmacological agents. It focuses on three main therapy areas: Oncology, Cardiovascular, Renal & Metabolic (CVRM), and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection, and Neuroscience.

Presently, the company has approximately 38 projects in Phase I, including 26 new molecular entities (NMEs), and 12 oncology combination projects; about 43 projects in Phase II, including 25 NMEs; six additional indications for projects that have reached phase II, and 12 oncology combination projects; and about 22 projects in late-stage development, either in Phase III/pivotal Phase II studies or under regulatory review.

The company’s market cap as of July 28, 2022, is 2.113 trillion SEK ($207.074 billion). The stock has been on the rise for quite some time and may be due for a pullback.

Investor B (INVEB)

It is a venture capital firm that invests in mature, middle market, buyouts, and growth capital investments. The firm seeks to invest globally and acquire a board seat. It operates through four business areas: core, private equity, operating, and financial investments. For core investments, the firm invests in health care, financial services, IT, and fintech sectors and considers investments in listed companies in leading minority positions. Some of its listed holdings include investments in ABB, AstraZeneca, Atlas Copco, Electrolux, Ericsson, Husqvarna, Nasdaq, Saab, SEB, Sobi, and Wartsila.

The stock has been on a prolonged decline year to date and may continue in its decline for some time. Its market cap as of July 28, 2022, is 578.282 billion SEK ($56.67 billion).

ABB Ltd. (ABB)

ABB Ltd is a holding company that engages in various products, including electrification products, robotics and motion, industrial automation, and power grids. It serves customers in utilities, industry and transport, and infrastructure through its four operational segments: Electrification Products, Robotics and Motion, Industrial Automation, and Power Grids. As of July 28, 2022, the stock’s market cap is 575.435 billion SEK ($56.4 billion). The stock has been on a decline for some time and may continue on that path for a while.

Atlas Copco AB (ATCOA)

The company, together with its subsidiaries, offers productivity solutions. It supplies piston compressors, oil-free tooth and scroll compressors, rotary screw compressors, oil-free blowers, oil-free centrifugal compressors, gas and process compressors, air and gas treatment equipment, and medical air solutions primarily for use in the manufacturing and process industries. The stock has been on the decline over the past year and may continue in its decline for some time. Its market cap as of July 28, 2022, is 528.857 billion SEK ($51.83 billion).

Hexagon AB (HEXAB)

The company operates as a provider of information technologies that drive productivity across geospatial and industrial enterprise applications for a range of industries, including agriculture, metals and mining, oil and gas, automotive, aerospace, medical devices, and pharmaceuticals. Its solutions integrate geospatial and industrial sensors, software, three-dimensional (3D) mapping, five-dimensional visualization and analysis, domain knowledge, and customer workflows into intelligent information ecosystems that deliver actionable information.

Hexagon AB is active in approximately 50 countries. It operates through numerous subsidiaries, including NESTIX Oy, MSC Software, Catavolt Inc., and DST Computer Services SA, among others. The company’s stock has been on a decline for the past one year and may continue in its decline for some time. As of July 28, 2022, the stock’s market cap is 315.078 billion SEK ($30.88 billion).

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