After a shaky open, Borsen settled at around zero for half an hour into the trading day.
The case is updated…
The main index fell 0.12 percent after half an hour of opening.
At the time of writing, the price of oil is $110.12 a barrel, which is just over a dollar higher than it was when the exchange opened. However, the price of oil is still down nearly $1 since the Oslo Stock Exchange closed before the weekend.
The drop in oil prices is contributing to a 2.59% drop in Aker BP. Meanwhile, Equinor is down a more modest 0.09 percent.
Aluminum giant Hydro fell 3.79 percent after half an hour of trading. This happens after the price of aluminum is down about 2 percent from before the weekend.
Oil company DNO shares fell nearly 6 percent. This weekend, Sparebank 1 Markets analyst Theodor Sven Nielsen assumed that the stake would make it somewhat weaker than the market after Iran’s missile attack on northern Iraq. The Norwegian oil company DNO, listed on the Oslo Stock Exchange, has its most important asset – the Tawke license – in the Kurdish north of Iraq. The attack was still about 200 kilometers from the permit.
Stock market rise in Europe
On the other hand, Monday morning mood prevails in several places in Europe. In both Hesinki and Frankfurt, stock markets are up more than 2%.
This is the mood in Europe:
- Frankfurt’s DAX rose 2.26 percent
- London’s FTSE100 Index is up 0.20%
- The CAC40 index in Paris rose 0.65 percent
- IBEX 35 in Madrid rose 0.84 percent
- The FTSEMIB index in Milan rose 1.34 percent
On the Nordic exchanges, it looks like this:
- The Stockholm Stock Exchange rose 1.36 percent
- The Helsinki Stock Exchange rose 2.41 percent
- The Copenhagen Stock Exchange fell by 0.7 percent
Hong Kong’s heavy case
The development in the European stock exchanges comes after a mixed picture in the Asian stock exchanges in the morning. In Hong Kong, the Hang Seng Index fell more than five percent after the neighboring city of Shenzhen imposed a lockdown due to an outbreak of infection over the weekend.
Otherwise, the war will continue to affect the markets. Over the weekend, there were cautious positive signals from both the Russian and Ukrainian sides about the negotiations. According to the plan, negotiations will continue digitally on Monday morning.
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