The global stock market fell by 1.3 percent in December. The decline was mainly driven by the U.S. stock market, which dropped 2.3 percent, while European equities performed better, rising by 1.4 percent. The Japanese stock market fell 2.0 percent during the month.
In the Swedish stock market, large-cap stocks increased by 2.6 percent, while small-cap stocks rose by 0.3 percent. The strongest sectors were raw materials, finance, and industry, which climbed by 4.7 percent, 4.2 percent, and 2.5 percent, respectively.
The Swedish ten-year interest rate rose by 5.1 basis points, resulting in the OMRX T-Bond bond index remaining largely unchanged. The Swedish krona strengthened by 2.6 percent against the dollar and by 1.3 percent against the euro.
The price of oil fell by 4.1 percent during the month, while the price of gold dropped by 0.3 percent. The Riksbank left its key interest rate unchanged at 1.75 percent in December, assessing that inflation is approaching its target and that the economy is strengthening.
Among the largest positive contributors were Boliden, which rose 14.8 percent, Systemair, which increased by 12.7 percent, and EQT, which was up 11.6 percent.
The largest negative contributions came from Addlife, which fell 17.2 percent, NCAB, which declined by 9.4 percent, and Vitrolife, which dropped by 8.1 percent.
The largest holdings in the fund's portfolio at the end of the month were Investor, Atlas Copco, and Volvo, with weights of 7.38, 6.08, and 4.46 percent, respectively.
| Indecap Sverige C, % | December, 2025 |
| Fund MM, change in percent | 1.55 |
| Fund full year, change in percent | 9.92 |
