Early trading on Tuesday sees the Stockholm Stock Exchange bathed in red.

Market sentiment has taken a hit following reports that Donald Trump is becoming increasingly frustrated with Iran. The President is reportedly considering new military operations.

As the session progresses, focus will shift toward new inflation data from the US. Meanwhile, fresh weekly figures showed an uptick in Swedish household consumption.

By 09:19 CET, the OMXS30 index was down 0.95 percent at 3,050.05. Shares worth approximately SEK 2.2 billion had changed hands on the Stockholm bourse.

Energy was the top performer among the major industrial sectors, posting a gain of 3.14 percent. At the other end of the spectrum, technology lagged behind, shedding 1.44 percent.

Among the blue-chip stocks in the OMXS30 index, Essity B remained unchanged while Telia eased 0.1 percent. H&M B recorded the weakest performance, falling 2.3 percent, while EQT retreated 2.1 percent.

Private equity firm EQT has been active, divesting its entire remaining stake in the specialist mortgage bank Enity. The sale of over 11.8 million shares, representing 23.64 percent of the capital and voting rights, was executed at a price of SEK 65 per share. This represents a 9.7 percent discount to the previous day's closing price. Enity shares are down 3.3 percent.

EQT has also presented a final attempt to acquire British firm Intertek. The revised bid totals 61.077 pounds per share.

Steelmaker SSAB's transition of its Oxelösund plant to fossil-free production has been delayed following an appeal. The setback concerns the permit process for the power line required to connect the new electric arc furnace. This delay in the power connection will impact the production start-up of the new furnace. However, the delay is not expected to have a material impact on the group's earnings or cash flow in 2026, nor is it expected to affect production or customer deliveries. SSAB shares are trading 1.5 percent lower.

Among companies reporting earnings, game developer Starbreeze is tumbling 10.6 percent. Sales fell sharply while EBITA swung to a loss.

Fellow developer Coffee Stain saw fourth-quarter revenue beat analyst expectations, while cash EBIT came in line with consensus. The board has proposed a dividend of SEK 0.68 per share. The stock is down 0.5 percent.

Real estate firms Stenhus and Trianon both reported year-on-year increases in income from property management for the first quarter. Stenhus is up 2.9 percent, while Trianon remains flat.

Research-based pharmaceutical company Camurus reported a decline in revenue and earnings for the first quarter compared to the same period last year. The company reiterated its full-year outlook. Camurus shares are falling 8.1 percent.

Paper manufacturer Arctic Paper reported lower profitability for the first quarter, citing continued uncertainty linked to geopolitics, trade barriers, and weak demand. Arctic Paper is down 0.8 percent.

Notable analyst rating changes include:

Arctic upgrades IPC to Buy (from Hold) with a target price of SEK 300. The stock is up 3.2 percent.

Arctic upgrades Meren Energy to Buy (from Hold) with a target price of CAD 2.97. Meren Energy is up 4.6 percent.

Pareto initiates coverage of Noba Bank with a Buy recommendation and a target price of SEK 110.