The Stockholm Stock Exchange trended higher throughout Tuesday, building on Monday's momentum. Leading European bourses advanced, while Wall Street opened the session with a significant rally.

Market sentiment was bolstered by fresh media reports suggesting that U.S. President Donald Trump is seeking to conclude the conflict in Iran without reopening the strategic Strait of Hormuz. This move aims to prevent the standoff from extending beyond his initial 4-to-6-week timeline.

At the close, the OMXS30 index was up 1.35 percent at 2,929.33. Shares worth approximately 29.7 billion kronor were traded on the Stockholm Stock Exchange.

Among the major industrial sectors, basic materials outperformed with a 2.7 percent gain. Conversely, telecommunications lagged, ending the session unchanged.

Among the blue-chip stocks in the OMXS30 index, Boliden rose 4.7 percent, while Sandvik climbed 3.4 percent. The weakest performers were Ericsson B, down 0.7 percent, and Essity B, which shed 0.4 percent.

Automaker Volvo Cars is converting a portion of its outstanding loan to Polestar into equity, based on a conversion price at a five percent discount to the 30-day volume-weighted average price. An initial conversion of 274 million dollars increases its stake from 9.8 percent to 19.9 percent. Furthermore, the companies announced plans to consolidate production of the Polestar 3 at the Charleston plant in the U.S. Volvo Cars shares rose 1.9 percent.

Atlas Copco's Swiss peer, VAT Group, reported very strong order intake for the first quarter of 2026, driven by sustained high demand in the semiconductor industry. However, quarterly revenue will fall short of the company's forecast due to delays caused by the conflict in the Middle East. VAT reaffirmed its full-year guidance. Atlas Copco's A-shares rose 1.3 percent.

Apparel retailer H&M gained 1.8 percent. The principal owner, the founding Persson family, has purchased additional shares in the company for 1.4 billion kronor.

In other major shareholder news, Kenneth Dart now controls over 30 percent of the shares in live casino developer Evolution, sending the stock up 2.0 percent.

The board of wind power company Eolus proposed that no dividend be paid for the 2025 financial year. This decision stems from the covenants of the company's senior secured green bonds, which prohibit dividend distributions following last year's negative net result. The stock increased 0.8 percent.

Consumer healthcare company Midsona acquired the Risenta brand for a preliminary 45 million kronor, funded through existing cash reserves. The acquisition is expected to contribute 130 million kronor in annual sales and improve the EBIT margin and earnings per share. Midsona surged 6.8 percent.

Construction group NCC secured several contracts with a total value of over 1.4 billion kronor. The stock rose 2.7 percent.

A series of rating changes were noted during the day.

Invisio climbed 7.5 percent after Pareto Securities upgraded its recommendation to buy from hold.

The same brokerage initiated coverage of Vitrolife with a buy rating, resulting in a 2.9 percent gain.

BNP Paribas resumed coverage of Traton with an outperform rating. The stock rose 2.6 percent.