June 5, 2023


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Decline in the Oslo Stock Exchange |  DN

Decline in the Oslo Stock Exchange | DN

The main index Oslo Poor’s index rose slightly from the start before moving completely flat for a short period.

At the close, Borsen closed 0.80 percent lower. This happens at the same time that the price of oil is down about one and a half percent from the early morning hours.

Many heavyweight companies pull the leading index. Oil company Equinor fell 1.27 percent, while BP fell more than one percent.

Kahoot shares fell nearly 8 percent on Thursday and closed at a closing price of 42.96 Norwegian crowns. JP Morgan lowered its recommendation for Kahoot from overweight to neutral, according to Reuters, according to TDN Direkt. Target price reduced to NOK 49 per share from the previous 87 NOK.

For the second day in a row, mobile and communications company Ice Group is experiencing a sharp decline. On Thursday, the stock fell 15.56 percent and closed at a closing price of 4.34 Norwegian crowns. During a single day in November, the share of ice fell by 62 percent The company announced that it will raise new funds.

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The omicron variant of coronavirus and any local and regional measures are still on the radar of market participants. Investeringsbanken SEB wrote in a comment Thursday that the latest information on omikron is somewhat contradictory.

“The World Health Organization said yesterday that omicron could alter the entire course of the epidemic, and indicated signs that the virus variant is significantly more contagious than previous variants, but could also be milder,” SEB wrote.

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On Wednesday night, the broad US S&P 500 index rose 0.3 percent and the Nasdaq tech index rose 0.6 percent.

Over the past three days, US stock markets have recovered from the losses of the past two weeks. Nordent’s Berntsen thinks this is a sign that many investors do not expect the Omicron virus to hamper economic activity significantly.

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