The Stockholm stock exchange traded lower at midday on Monday, mirroring the trend seen on leading European markets. The day's focus is on Saab's major order and a strategic shift at Volvo Cars.

As of 1 p.m., the OMXS30 index was down 0.49 percent at 2,743.57. Shares worth approximately SEK 6.0 billion had been traded on the Stockholm exchange.

Among the major industrial sectors, energy performed best with a 0.4 percent gain. On the other end, consumer discretionary stocks were the weakest, falling 1.4 percent.

Within the leading OMXS30 stocks, Saab B rose 7.1 percent while Nibe B was up 1.3 percent. The worst performers were H&M B, down 1.9 percent, and EQT, which fell 1.5 percent.

Defense company Saab surged on news of a major order from Colombia. The country has placed a SEK 34 billion order for Gripen aircraft, and according to media reports, the United Kingdom is lobbying for Poland to purchase Swedish submarines.

Heating technology company Nibe rebounded after Friday's sharp stock decline. The share is up 1.4 percent, after dropping 13 percent on Friday following the release of its quarterly report.

Automaker Volvo Cars is shifting its strategy and will now collaborate with the rest of the Geely Group to boost profitability. The stock fell 3.1 percent.

Gaming company Embracer intends to list Coffee Stain with a pro forma net cash position of SEK 500 million as of September 30 this year. The share is down 1.2 percent.

The Persson family's Ramsbury Invest has purchased H&M shares worth SEK 292 million. As of November 10, their holding amounted to 1.05 billion shares, representing 65.59 percent of the company and 83.46 percent of the votes. The stock is down 2 percent.

CAG Group CEO Åsa Landén Ericsson will step down at the end of May next year. Landén Ericsson took on the role in March 2018, and under her leadership, CAG's revenue has grown from SEK 395 million to SEK 872 million with strong profitability. The share is down 2.8 percent.

The board of real estate company Balder has decided to use the mandate from the May annual general meeting to repurchase its own shares. Balder is authorized to buy back up to 10 percent of all shares in the company. The share is up 2.1 percent.

Oil company Shamaran has completed its first oil transport from the Ceyhan terminal, and the share is up 1.2 percent.

The European Medicines Agency (EMA) expert committee has issued a positive opinion to grant orphan drug status to Bioinvent's drug candidate BI-1808 for the treatment of cutaneous T-cell lymphoma. A formal decision is expected within 30 days. The share is down 0.2 percent.

On the recommendation front, Volati received a "buy" recommendation from Dagens industri, and the share rose 8.5 percent.

Pareto has initiated coverage of board game company Asmodee with a "buy" recommendation and a target price of SEK 140. The share is up 0.7 percent.

Handelsbanken has upgraded Latour to "hold" from "sell," and the share is trading roughly unchanged.