The Stockholm Stock Exchange turned lower towards the close on Tuesday, following a reversal on Wall Street where an initial rally gave way to losses. In corporate news, Rusta slumped following its year-end report, while Alzecure surged on a licensing deal with Eli Lilly. Ericsson declined amid reports of potential competition from Nvidia.

At the close, the OMXS30 index was down 1.18 percent at 3,070.22. Shares worth approximately SEK 21.8 billion were traded on the Stockholm Stock Exchange.

Among the major industrial sectors, consumer staples performed best with a 1.5 percent gain. At the other end of the spectrum, technology lagged behind, falling 3.4 percent.

Among the leading shares included in the OMXS30 index, Essity B rose 2.4 percent while H&M B gained 2.0 percent. The weakest performers were Ericsson B, down 6.3 percent, and Boliden, which shed 4.3 percent.

Discount retailer Rusta reported higher revenue and improved EBITA for the fourth quarter of its broken fiscal year. The dividend is proposed to be raised by 24 percent to SEK 1.80 per share. The company opened 14 new stores during the fiscal year and maintained its guidance to open 65-80 new stores over the next three fiscal years. The stock tumbled 13 percent.

Saab has agreed to divest its Public Safety Solutions business to Norway's Omda. The transaction is expected to close in the fourth quarter of this year and includes software solutions, the customer base, and 75 employees. The stock dipped 1.5 percent.

AstraZeneca is proceeding with an extensive Phase 3 program for elecoglipron following positive Phase 2b results in obesity and type 2 diabetes. The stock lost 0.8 percent.

Technology firm Sivers Semiconductors has received a production order from All.Space worth USD 8.2 million, equivalent to SEK 77 million, with deliveries running through 2027. The stock initially rose but reversed course to close 14 percent lower.

Research company Alzecure Pharma entered into a global collaboration and licensing agreement with Eli Lilly for the Alzheimer's candidate Alzstatin ACD680. The deal includes an upfront payment of approximately USD 10 million, potential milestone payments, and mid-single-digit royalties on product sales. The total deal value, excluding royalties, is estimated to potentially exceed USD 1 billion. The stock skyrocketed 247 percent.

Gambling provider Hacksaw entered into a partnership with gaming operator Magicbet, making the company's game portfolio available to the operator's customers in Bulgaria. Hacksaw's shares edged down 0.4 percent.

Telecom equipment provider Ericsson was weighed down by reports that chip giant Nvidia is allegedly developing a chip for radio units within 6G networks, which could signal increased competition for Ericsson and Nokia.

Mining company Boliden's shares were pressured as Goldman Sachs resumed coverage with a 'sell' rating and a price target of SEK 468.

Nordea initiated coverage of home improvement chain Clas Ohlson with a 'buy' rating and a price target of SEK 440. The stock rose 5.6 percent.