The Stockholm Stock Exchange is pulling back on Thursday following Wednesday's sharp gains. The market performance in Stockholm is weaker than what is being seen on the leading major exchanges in Europe. News flow highlights Swedish inflation in December coming in lower than expected.

As of 12:25 p.m., the OMXS30 index was down 0.77 percent at 2,940.51. Shares worth approximately 6.9 billion kronor had been traded on the Stockholm Stock Exchange.

Among the main industrial sectors, healthcare performed best with a gain of 0.2 percent. On the other hand, consumer discretionary stocks were at the bottom, down 2 percent.

Among the leading stocks included in the OMXS30 index, Saab B rose 1.9 percent while Boliden was up 0.8 percent. The worst performer was H&M B, down 3.9 percent, while SCA B fell 3.7 percent.

Pharmaceutical company Sobi climbed 3.3 percent. The company has decided to further develop Gamifant for the treatment of gamma-interferon-driven sepsis. This comes after topline data from the phase 2a Embrace study supported proof-of-concept, with observed improvements in organ dysfunction and survival. The further development will take place in collaboration with the Hellenic Institute for the Study of Sepsis, HISS. Today, analyst firm ABG upgraded Sobi to buy from hold.

European defense companies are generally rising amid ongoing geopolitical tensions. Swedish Saab is up today for the fifth consecutive session, setting a new all-time high at 649.60 kronor.

Gaming entertainment company MTG was up 0.5 percent. The company will transfer just over 6.19 million shares in its own company to the founders of Playsimple Games. The transfer will take place in January in accordance with agreements, including subsequent amendments, made in connection with MTG's acquisition of Playsimple in July 2021.

Real estate company K-Fastigheter has reduced its ownership in its subsidiary K-Fast Kilen to below 50 percent after selling 1.2 percent of the shares. As a result, K-Fast Kilen will no longer be reported as a subsidiary but as an associated company, effective January 1 this year. The share fell 1.1 percent.

On the analysis front, Goldman Sachs has upgraded Volvo to buy from neutral. The stock rose 0.3 percent.

Barclays has upgraded Boliden to equal weight from underweight. JP Morgan has also upgraded Boliden to neutral (from underweight). The stock increased by 0.7 percent.

Jefferies has upgraded Catena to hold from underperform. The share rose 0.1 percent.

BNP Paribas has downgraded Essity to neutral from outperform. The B share was down 0.2 percent.