Nasdaq Nordic & Baltic Stock Market Today (Dec 1, 2025): OMXS30 Slips as Europe Starts December in the Red

European equities began the final month of 2025 on a cautious note, and the Nordic and Baltic markets moved broadly in step. A soft risk appetite, higher bond yields and ongoing rate-cut speculation in the US and Europe nudged benchmark indexes modestly lower, even as local corporate and index news generated pockets of activity. ^[1]

Across the region, Sweden’s OMXS30, Denmark’s OMXC25 and Finland’s OMXH25 all traded slightly in the red, while Baltic indexes were mixed and the regional OMX Baltic Benchmark GI hovered just above flat. ^[2]

All index levels and moves below refer to December 1, 2025, based on closing or latest available official quotes.

Global backdrop: Europe follows a weak global start to December

Global markets entered December in risk-off mode. European stocks eased after a strong November, with the pan-European STOXX 600 down about 0.2–0.4% in morning trade as industrials led declines and investors took profits in cyclicals. ^[3]

At the same time, US equity futures fell — S&P 500 contracts slipped around 0.5% and Nasdaq 100 futures about 0.6% — while the Stoxx Europe 600 dipped roughly 0.2%, reflecting broader risk aversion at the start of the month. ^[4]

This global tone is shaped by:

Rate expectations: Analysts still expect the US Federal Reserve to begin its next easing step in 2026 after cooling inflation, with balance sheet runoff already ending at the start of December. ^[5]
Post‑rally consolidation: After several months of gains, especially in Europe, it’s natural to see some profit‑taking in early December.

With Nordic and Baltic markets heavily integrated into European capital flows, local benchmarks largely mirrored this cautious mood.

Nordic equity indexes: modest declines, heavy on cyclicals

Sweden: OMXS30 edges down as new index regime starts

Sweden’s flagship OMX Stockholm 30 Index (OMXS30) traded around 2,770–2,780 points, down roughly 0.5% on the day, according to Nasdaq’s official data snapshot (2,772.59, -0.54%). ^[6]

The move is small in absolute terms but notable as it comes on a day when several index changes go live:

OMXS30 semi-annual review – no changes:
Nasdaq confirmed on November 21 that its semi‑annual review of the OMXS30 resulted in no component changes, even though today (Dec 1) is the effective date. ^[7]
- For large‑cap Swedish blue chips, that means no forced index‑driven flows in or out of the headline benchmark.
Stockholm Benchmark Index reshuffle:
Much more is happening under the hood in the broader OMX Stockholm Benchmark (OMXSB), which also rebalances today. New entrants include AcadeMedia, BioArctic B, Boozt, Cloetta B, Gränges, Platzer Fastigheter B, Scandic Hotels and VBG Group B, while names such as Arise, BioGaia B, Bravida, MEKO, Rusta, Solid Försäkring, SSAB A, Truecaller B and Xvivo Perfusion exit the index. ^[8]These changes matter because many Nordic funds use OMXSB as a benchmark; flows around the rebalance can create short‑term volume spikes and price noise in the affected mid‑caps.
Real estate and buybacks in focus:
- The Swedish commercial real estate sector remains a structural theme. Fabege’s previously announced CEO change becomes effective today, with Bent Oustad taking over as President and CEO, a leadership transition investors will watch closely in a still‑fragile property market. ^[9]
- H&M published details of its share buybacks during week 48 (Nov 24–28), highlighting continued capital returns to shareholders. ^[10]

Taken together, Stockholm’s slight OMXS30 decline sits against the backdrop of index reshuffles and corporate repositioning rather than any single macro shock.

Denmark: OMXC25 dips as Sydbank joins the benchmark

In Copenhagen, the OMX Copenhagen 25 Index (OMXC25) was almost unchanged, slipping about 0.1% to roughly 1,745 points (Nasdaq quote: 1,745.22, -0.07%). ^[11]

The more interesting story is again structural:

OMX Copenhagen Benchmark (OMXCB) rebalance:
Effective at today’s open, Sydbank A/S joins the OMX Copenhagen Benchmark, while Trifork Group and TORM A‑shares are removed. ^[12]
- For Sydbank, inclusion may support liquidity and index‑tracking demand.
- For the removed names, some passive money may gradually rotate out.
Covered bond prepayment data:
Danish mortgage issuers continue to feed the market with bond cash‑flow information:
- Nykredit Realkredit released a “Prepayments (CK93)” bulletin to Nasdaq Copenhagen today, in line with Danish Capital Markets Act disclosure rules. ^[13]
- Jyske Realkredit likewise published preliminary data on early redemptions (prepayments) in its bond portfolios, addressed to Nasdaq Copenhagen as announcement no. 103/2025. ^[14]

These prepayment updates are routine but important for the Danish covered bond market – a cornerstone asset class for many local equity investors’ broader portfolios.

Finland: OMXH25 softens as corporate news trickles in

Finland’s OMX Helsinki 25 (OMXH25) slipped around 0.2% to roughly 5,419 points (5,418.46, -0.22% in Nasdaq’s summary; Investing.com’s end‑of‑day data show a similar -0.20%). ^[15]

Notable headlines around the Finnish market today include:

Benchmark index reshuffle:
The OMX Helsinki Benchmark (OMXHB) also adopted its semi‑annual review at today’s open. SSAB B was added, while F‑Secure, Kalmar B, Sitowise and SRV Group were removed. ^[16]
- This slightly tilts the benchmark toward heavy‑industry exposure via SSAB B, at the expense of small‑ and mid‑cap tech/engineering names.
Vincit announces potential layoffs:
IT and digital consultancy Vincit said it is initiating change negotiations in Finland concerning temporary layoffs, citing market conditions. ^[17]
- While Vincit is not a Helsinki‑25 heavyweight, the announcement adds to evidence of cooling demand in parts of the Finnish tech and consulting space.
Nokia sets its 2026 financial calendar:
Nokia released its financial reporting calendar for 2026 this morning, giving investors clear dates for upcoming quarterly reports and the AGM. ^[18]
- Calendar releases rarely move share prices, but they help investors plan around earnings‑driven volatility.
Bond market housekeeping:
Finnish public‑sector lender Kuntarahoitus (Municipality Finance) previously announced that it would redeem a €100 million bond early with repayment on December 1, 2025, and seek to delist the instrument from Nasdaq Helsinki’s bond list. Those actions become effective today. ^[19]

Overall, Helsinki’s market weakness is mild, in line with continental Europe, but investors are clearly watching signs of softness in domestic demand and credit conditions.

Iceland: Síðarvinnslan joins OMX Iceland 15

At the time of writing, detailed intraday data for Iceland’s main equity index are limited, but Nasdaq’s European market activity page most recently showed the OMX Iceland 15 (OMXI15) hovering near 2,650 points, modestly higher on the day (about +0.2%). ^[20]

The more structural story is again about index composition:

Nasdaq’s semi‑annual review of OMXI15 becomes effective today. The review adds Síldarvinnslan hf (SVN) to the 15‑stock benchmark representing the largest and most traded names on Nasdaq Iceland. ^[21]
Media summaries of the same announcement note that Skagi hf is removed from the index as part of this rebalancing. ^[22]

Iceland’s market has been relatively volatile in 2025, and index inclusion or removal can have a non‑trivial impact on liquidity for local mid‑caps, given the small absolute market size.

Baltic equity markets: quiet session, but busy primary & bond flows

Benchmark performance: broadly flat to slightly lower

Across the Baltic region, the headline OMX Baltic Benchmark GI – which tracks a selection of leading stocks from Estonia, Latvia and Lithuania – was up roughly 0.1%, around 1,632 points, based on late‑day quotes. ^[23]

Local all‑share indexes were more mixed:

Estonia – OMX Tallinn GI (OMXTGI): around 1,944 points, down about 0.1% on the day according to MarketScreener’s real‑time feed. ^[24]
Latvia – OMX Riga GI (OMXRGI): 922.59 points, a decline of 0.17%, with a narrow range between 920.35 and 923.84. ^[25]
Lithuania – OMX Vilnius GI (OMXVGI): roughly 1,275 points, off about 0.3% on the session (1,274.86, -0.29%). ^[26]

In other words, Baltic equities drifted slightly lower overall, but the regional benchmark’s tiny gain suggests outperformance by a handful of larger names included in the Baltic Benchmark index.

New bond listing: PRO BRO Group debuts on First North

The key headline for the Baltic capital markets today is on the debt side:

PRO BRO Group bond listing:
- Nasdaq Baltic announced that PRO BRO Group’s bonds began trading on the Nasdaq Baltic First Northmarket today. ^[27]
- The company raised more than €5.5 million in a public offering.
- Each bond has a nominal value of €1,000, a 9% annual coupon paid quarterly, and a 2.5‑year term with redemption on April 14, 2028. ^[28]
- A total of 633 investors from Lithuania, Latvia and Estonia participated, with an average investment slightly above €8,000. ^[29]

For the Baltic bond market, this is another example of medium‑sized regional issuers successfully tapping retail and professional demand via the First North platform, which has been increasingly active in 2025.

Corporate actions: buybacks, board changes and government debt

Other Baltics‑related developments around today’s session include:

Infortar share buybacks:
Estonian investment group Aktsiaselts Infortar reported that it repurchased its own shares on Nasdaq Tallinnduring the period 24–28 November 2025, with details published via a GlobeNewswire release on December 1. ^[30]
- Ongoing buybacks can provide price support and signal management confidence, especially in relatively illiquid Baltic names.
Baltic corporate governance moves:
- Ekspress Grupp, a listed Baltic media company, announced earlier that changes in its Management Board would take effect from December 1, 2025, adjusting its leadership structure through to 2030. ^[31]
- Such governance steps are closely watched by investors in a region where free float and liquidity can be limited.
Government securities auctions:
Nasdaq Vilnius published results for Lithuania’s most recent government securities auctions in early December, providing updated pricing signals for local sovereign yields. ^[32]
Baltic investor calendar:
The Nasdaq Baltic “Investor Calendar” for week 49 (starting Dec 1) highlights upcoming corporate events, including earnings, bond coupon payments and shareholder meetings, giving investors a roadmap for December news flow. ^[33]

How analysts view Nordic & Baltic equities heading into 2026

While today’s moves are modest, they sit within a larger narrative that’s increasingly important for medium‑term investors.

Nordic valuations: dispersion and sector stories

Recent strategy pieces from Nordic private banks and asset managers stress three broad themes: ^[34]

Valuations are diverging across the Nordics.
- Swedish and Danish quality growth names, especially in healthcare and consumer staples, still trade at premiums relative to the wider European market.
- Some cyclical industrials have rerated higher during 2025’s rally, leaving less margin of safety if global growth stumbles.
Earnings forecasts have been revised down in several sectors.
- Analysts have cut estimates for cyclical names exposed to global capex and shipping, while expectations remain more resilient for defensive sectors.
- Nordic banks are seen as relatively well capitalised but sensitive to the path of local housing markets and funding costs.
Pharmaceuticals and selected growth stocks look attractive on a 2–3 year view.
- Names like Novo Nordisk, which is heavily traded in Copenhagen, remain at the centre of global obesity‑drug and GLP‑1 themes.
- A recent outlook piece hosted on Nasdaq’s platform argued that Novo Nordisk could deliver substantial upside by 2026 on the back of continued earnings growth, despite political pressure on US drug prices. ^[35]

Overall, the consensus message is that Nordic equities remain attractive long‑term, but stock selection — and attention to sector exposures — will matter more than ever.

Baltic equities: still a high‑yield value play

On the Baltic side, specialist platforms continue to view the region as a niche but promising opportunity set:

A late‑October commentary from Lithuanian real‑estate investment platform Profitus pointed out that, on traditional metrics such as price‑to‑earnings and dividend yield, Baltic equities screen as particularly cheapversus many developed markets. Higher trading turnover and larger average tickets than a few years ago suggest growing investor engagement. ^[36]
Independent technical‑analysis providers also highlight rising liquidity and a maturing market structure, although individual stocks can still be volatile given small floats. ^[37]

For long‑term investors, that combination of above‑market yields and improving market infrastructure is a central part of the Baltic investment case going into 2026 – even if daily moves like today’s are small.

Key themes to watch for the rest of December

Looking beyond today’s session, several themes are likely to shape Nasdaq Nordic and Baltic markets through the rest of December:

Central bank signalling and rate expectations
- The Riksbank and Norges Bank have both recently stressed data dependence, and markets are finely balanced between expectations of “on‑hold” versus the first cuts in 2026. ^[38]
- Any surprise in inflation or GDP data could quickly reprice rate paths and ripple through highly rate‑sensitive sectors like Nordic real estate and banks.
Index rebalancing follow‑through
- Today’s index changes for OMXS30, OMXSB, OMXCB, OMXHB, OMXI15 and Baltic benchmarks often lead to several days of residual flows as passive and quasi‑passive strategies finish adjusting. ^[39]
December seasonality vs. risk-off mood
- Historically, global equities have tended to post modest positive returns in December; Bloomberg data cited today show an average gain of around 0.5% over the last decade. ^[40]
- Whether that pattern repeats in 2025 will depend heavily on macro surprises and the trajectory of US yields.
Ongoing primary and secondary issuance
- More mid‑sized bond deals like PRO BRO Group’s are likely as companies take advantage of still‑open funding windows. ^[41]
- Share buybacks (H&M, Infortar, and others) and corporate governance changes (Ekspress Grupp, Infortar subsidiaries) will continue to shape individual stock stories. ^[42]

Bottom line

On December 1, 2025, the Nasdaq Nordic and Baltic exchanges reflected a classic “soft risk‑off” start to a new month:

Major Nordic equity benchmarks — OMXS30, OMXC25, OMXH25 — eased between 0.1% and 0.5%, broadly tracking a weaker pan‑European session. ^[43]
Baltic all‑share indexes slipped modestly, but the OMX Baltic Benchmark GI managed a small gain, helped by strength in selected large caps. ^[44]
Structural changes — index rebalances, bond listings, buybacks and governance moves — were at least as important as macro headlines in explaining where flows went.

For investors, today’s trade should be read less as the start of a new downtrend and more as a pause for breath after strong year‑to‑date gains, with December likely to be dominated by rate expectations, index‑driven flows and selective stock stories rather than broad directional bets.