January 17, 2022

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- Now I'm relatively relaxed - E24

– Now I’m relatively relaxed – E24

Investors are selling shares, and shares are trending lower on the Oslo Stock Exchange. Director Marius Borthen warns against making hasty purchases and sales.

Relax: Marius Borthen runs at Blueberry Capital.

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There are red numbers on markets around the world, and the Oslo Stock Exchange is no exception. The main index is down about 1.5 percent after just over an hour of trading.

A barrel of North Sea Brent oil is trading at $69.72 in the spot market on Monday morning Norwegian time, down 6.6 percent since midnight. Brent crude is used as a reference for oil trade globally.

Most heavyweights in red:

  • Equinor falls 2 percent
  • Aker BP stock fell 2.7 percent
  • Mowi down 2.3 percent
  • Norsk Hydro 1%
  • DNB down 1.9 percent

Bakkafrost fish farming shares fell 10.4 percent after one message Increased fish mortality at the company’s facilities in Scotland cost the company 174.6 million NOK (239.8 million NOK) in October and November. The deaths are caused by problems with the gills of the fish, which were exacerbated by a type of small jellyfish in the facilities.

Those who sell stocks do so before Christmas

Director Marius Borthen at Blueberry Capital hasn’t been nervous about stock market dips during the Christmas season.

– At the moment I am relatively comfortable, says Borthen.

I don’t think people should care about how the market is going on a daily basis. Then you make a lot of hasty buying and selling, says Borthen.

Should the market keep falling at Christmas?

The time until the first trading day of January tends to be good. I think those who sell stocks do so before Christmas. During space Christmas there are mostly only buyers in the market, after which it tends to go higher.

Borthen thinks managers and investors want the holidays, and they’re selling before the New Year to clean up their portfolio overview.

– They should announce the positions they have from December 31, and if they then sit in acidic situations, they often want to get rid of this before the end of the year. Often you want to start with blank sheets of paper in the new year.

Private investors also like to sell before the new year because they want to take a tax deduction for the current year, although this effect is somewhat less after obtaining an ASK.

Copenhagen Stock Exchange fell more than 5 percent

European stock markets are broadly declining. The Copenhagen Stock Exchange in particular stands out, falling 6.3 percent. Pharmaceutical giant Novo Nordisk fell 11.4 percent Delay At Wegovy real estate. The company will not be able to meet demand for a drug that will help obese people, Reuters writes. Danish wind energy giant Vestas also fell 5.1 percent.

Asian stock markets fell sharply in the morning. In the US, stocks are pointing lower in pre-trading, with futures contracts tied to the three leading Wall Street indexes falling.

Bid with budget bangs

Evolution comes according to Bloomberg Among others due to concerns about new closures due to increased omicron infections. The Netherlands is practically conducting a full “lockdown” from Sunday, which will last until January 14 at the earliest. The UK has also seen an increase in coronary heart disease recently.

Borthen at Blueberry Capital explains the stock market’s downturn today with Biden’s defeat on the “Build Back Better” package.

Democratic US Senator Joe Manchin has said he will vote against President Joe Biden’s $2,000 billion crisis package. It represents a defeat for the president. Goldman Sachs later cut its US growth forecast.

The senator posted a statement on his website website, where he explained that the prestigious Biden project is very expensive. CNN reports that this should have made Biden angry.

– That’s a little bit noisy for the stocks we have. No big things have happened other than this.

The most interesting thing now is that the ten-year interest rate on US government bonds has fallen a lot, Borthen believes. Blueberry Capital’s biggest position is real estate stock Entra, which earns it low interest rates.

Jolifect

Low trading volumes associated with Christmas can amplify volatility in the markets.

There is often a little worse liquidity in the market now that Christmas is approaching, and one is often afraid to take more risks by the end of the year to spoil what has been a good year for most people, says chief strategist Joachim Bernhardsen at Nordea Markets.

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