Stockholm stock exchange falls as Middle East tensions push oil prices higher

Stockholm’s stock market opened the trading week with losses on Monday following developments in the Middle East, Swedish public broadcaster SVT reports. The broad OMXS index dropped 0.9 percent.

Most major stocks on the OMXS30 list of most-traded shares declined, with online casino operator Evolution suffering the largest loss at 2.5 percent. Private equity firm EQT followed, closing down 2.2 percent.

A few companies defied the downward trend, including telecoms giant Ericsson, which rose 2.5 percent, and heat pump manufacturer Nibe, up 2.2 percent.

Other leading European exchanges also saw declines on Monday.

The escalation in the Middle East—where the US is reported to have seized an Iranian cargo ship—has driven oil prices higher. By late Monday afternoon, a barrel of North Sea Brent crude traded at around $95.