December 7, 2022

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Last October Trading Day: - Will go down in the history books as one of the best October in decades

Last October Trading Day: – Will go down in the history books as one of the best October in decades

Although several stock market heavyweights submitted their position in the third quarter, this week investors in Oslo Stocks will also receive quarterly reports from several popular stocks — or stocks that were popular until recently.

On Monday, Oslo’s Stocks opened with a 0.3 percent increase, but it’s a nervous market. Just ten minutes later, the main indicator also managed to turn red with a 0.2 percent decrease.

Among those who pulled the trigger in the opening minute was Equinor stock, with a 0.3 percent price increase. It was followed by Aker BP, up 0.7 percent, and DNB and Telenor also rose in opening trade. However, the stock market day was not very positive for everyone.

Because after a quarter of an hour of trading, Equinor turned out to be down about one percent, and at the same time, only four of the top ten Oslo Stocks had a positive price development. After that, there was an oscillating development of the adult.

At lunchtime, investors seemed more willing to buy, with the benchmark index up 0.6 percent. Aker BP, DNB, Equinor and Telenor all saw price increases of 0.7 to one per cent. Then came a fall afternoon for Equinor and Aker BP.

In the morning hours before Bursen opened, Secre announced it Hiring a solid board of directors The secri rate rose from the start. Stocks of several seafood, including Grieg and Salmar, rose strongly on Monday morning, as did modified And the XXL who was in center last week.

Best October in years

Other than that, many global stock markets are heading for their best October in decades, with the US Dow Jones 30 Index, for example, up about 12 percent.

It was a stunning finish on Wall Street on Friday, despite a number of weak reports from the biggest companies earlier in the week, said Roger Berntsen at online broker Nordnet Monday morning.

However, on the local Oslo Stock Exchange, the development is of a more modest nature, with an increase of about 5.5 percent from October.

Along with many Asian stock exchanges go up on mondayThere was a positive mood at the Oslo Bors on Monday, according to Berntsen. His estimate for the trading day was a 0.6 percent increase. Berntsen notes that October 2022 will go down in the history books as one of the best October in decades, buoyed by positive developments in interest rates and currency markets.

Last week, stock prices rose four percent, probably because interest rates have fallen and fear of inflation may have subsided somewhat, chief economist Keri M. Knudsen at Sparebank 1 SR-Bank reports.

He pointed out that long-term interest rates in the United States started last week with more than 4.2 percent and fell over the course of the week to 4.0 percent. However, he warns that there is still “inflation uncertainty” and therefore “fear may build up again” in financial markets.

interest rate decision week

Besides some important quarterly numbers, there will also be interest rate decisions on an ongoing basis from both Denmark and abroad this week. Some of the highlights come from the US Federal Reserve and the Bank of England, where the former, according to several senior economists, is expected to raise interest rates again by 0.75 percentage points.

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The Norges Bank rate decision on Thursday will also get a lot of attention.

In a morning report from DNB Markets, it was stated that “Market outlook for Norges Bank is split”:

There is roughly the same probability of a 25 basis point rate increase as there is for 50 basis point, and we’re leaning more towards 50 basis point. There are several reasons for this. First, overseas interest rates have risen significantly since September, which is in line with analysts’ upward revision to inflation estimates for both this year and next, analyst Kerry Amdahl wrote.

Then the macroeconomists at DNB Markets list reasons 2 and 3 for an interest rate increase of 0.5 percentage point:

  • Capacity utilization in the Norwegian economy is slightly higher than the Norges Bank assumed in its September monetary policy report.
  • September price hike higher than Norges Bank estimates

– GDP on the mainland has been somewhat stronger in recent months than the Norges Bank estimated in September. In addition, registered unemployment has remained below the Norges Bank’s estimate, although it does not exceed a tenth, writes Aamdal.

Analysts’ upward revision to growth forecasts also indicates that the drivers of the Norwegian economy are unlikely to have weakened more than what the Bank of Norway assumed a month and a half ago.

For their part, Handelsbanken analysts believe Norges Bank will raise “only” 25 basis points this week.

tour advisors

Several renewable energy companies reported this week, as did consultancy Multiconsult on Wednesday.

Storebrand director Hans Thrane-Nielsen told DN this weekend that it will keep a close eye on listed advisory firms in particular, because the lower billing rate across the industry may give an indication that the Norway stops a little.

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An experienced portfolio manager summarizes the initial quarterly report as follows:

Almost all the great Norwegians came, all the great Swedes and all the great Americans except the oil industry. And then we mostly know that the third quarter was good too, he says.

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