The Stockholm Stock Exchange is rallying sharply in early Wednesday trading following the ceasefire reached between the United States and Iran. The announcement came just 90 minutes before the original deadline for a large-scale attack on Iran was set to expire.

Donald Trump had threatened to obliterate "an entire civilization" with strikes targeting Iran's energy infrastructure and bridges. The U.S. President's announcement sent Brent crude prices into a steep decline.

As of 09:20 CET, the benchmark OMXS30 index was up 4.29 percent at 3,095.25. Shares worth approximately SEK 4.6 billion had changed hands on the Stockholm bourse.

Among the major industrial sectors, basic materials outperformed with a 5.23 percent gain. At the other end of the spectrum, the energy sector lagged, sliding 8.94 percent.

Among the blue-chip stocks in the OMXS30 index, Boliden climbed 7.7 percent while EQT rose 7.5 percent. Telia saw the weakest performance, shedding 1.1 percent, while Tele2 B fell 1.0 percent.

Cevian Capital has sold 45 million shares in Ericsson, reducing its stake from 4.6 to 3.2 percent, according to EFN, citing updated data from Holdings. The change is also reflected in Ericsson's annual report. The transaction was executed during 2025 and is valued at between SEK 3.1 billion and SEK 4.4 billion. Ericsson shares rose 2 percent.

An external legal review of the home electronics chain Elon has found no evidence to support suspicions of criminal activity within the business. However, the investigation points to recurring deficiencies in the documentation of decisions and notes that individual executives occasionally failed to comply with the company's code of conduct. The review was commissioned following media reports in the autumn of 2025, and the company intends to publish the report in its entirety. Elon's share price remained unchanged.

Regarding today's analyst recommendations, Nordea has downgraded Tele2 to hold from buy. AQ Group was also downgraded to hold from buy by Pareto. Verve was lowered to accumulate from buy by Inderes. Tele2 retreated 1.1 percent, AQ rose 3.6 percent, and Verve gained 6 percent.

IT consultancy Knowit has been approved as a supplier under the NATO agency NCIA's Basic Ordering Agreement (BOA) via its Finnish subsidiary Knowit Solutions. The approval enables participation in tenders for digital and secure systems for NATO and its member states. Knowit rose 4.2 percent.

Automotive parts retailer and workshop operator Meko is implementing changes to its Norwegian operations. Geir Hoff will take on expanded responsibility for Meko's entire Norwegian business when Morten Birkeland retires and leaves the executive management team on July 1. Hoff currently oversees Mekonomen and Meca in Norway. This means Hoff will also assume responsibility for Sørensen og Balchen. Meko climbed 3.1 percent.