Tele2 shares rise as Q1 performance bodes well for the year

** Shares in Tele2 TEL2_A are up around 5% as the Swedish telecoms operator's Q1 service revenues and EBITDA came in a tad higher than expected

** "A promising start to the year," UBS analysts say

** J.P.Morgan highlights strong Sweden pricing trends and free cash flow beat

** Equity free cash flow was of 1,291 million Swedish crowns, 24% above consensus, JPM says, adding that Sweden's strong average revenue per user (ARPU) growth offset customer losses

** Tele2 reported EBITDAaL of 2,550 million crowns, 1.2% above consensus, and reiterated its 2024 guidance

** The share, on track for its best day in over 2.5 year, is among best performers on STOXX 600 index SXXP

** Shares in peer Telia TELIA are up 0.6% in morning trade