October 4, 2022

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Oslo Borz accelerates upwards - E24

Oslo Borz accelerates upwards – E24

The stock market rose significantly after a bleak start to the week.

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About two hours into the trading day, the main index was up 1.66 percent.

– The only sure thing is that it will flip. Investor Peter Hermannrod says he will be new to E24, shortly before the stock market opens.

The price of oil also rose throughout the day. At 11:00, the price of a barrel of North Sea oil (burning spot) is $87.54 a barrel, an increase of 0.57 percent from midnight.

Oil giant Equinor rose 1.32 percent, while Aker BP rose 1.11 percent. The two most traded companies are traded on the Oslo Stock Exchange.

Otherwise, Nordic Semiconductor stock rose 2.47 percent, becoming the third most-traded Borsen stock. They are followed by Norsk Hydro and MPC Container Ships, with increases of 2.90 and 1.55 percent, respectively.

Drama day

The past 24 hours have been very turbulent for global stock markets. On Monday, the main index was down 3.45 percent, but it was just the prelude to the evening that US stock exchanges had to show.

At worst, the Nasdaq 100 was down about five percent, before a historically strong reversal began. In the end, all US indices closed in green.

In the Asian stock markets, there was a sharp drop in the morning hours.

A complete turnaround in the US yesterday could mean that volatility and turmoil will continue today, says Liv investment manager Ron Ren at Nordea Leaf.

It doesn’t usually last when you get such a set. Had it ended up dropping by four percent yesterday, that might have been the end. It may be a good idea that you’ve been exposed to fluctuations so far.

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Disturbances like this we see now often last for a few months. There will likely be some turbulence going forward, but we’re not headed for a downturn. It will not be long lasting.

He also adds that the quarterly season in the US has started well, and it can help when it gets off to a good start.

– But it might be good that we got a rate hike from the US Federal Reserve before the market calms down again.

Rentoro

The market awaits the US Federal Reserve’s decision to make its first interest rate decision of the year on Wednesday night. The central bank is expected to indicate that interest rates will rise at the next rate meeting in March.

Before Christmas, the central bank began normalizing monetary policy after the Corona crisis, when it began to phase out support purchases.

Belief in a rate hike already in March gradually increased with the release of US inflation figures. Earlier this month, it was reported that inflation rose by seven percent in December, the highest level since 1982.

Many also cited uncertainty over the military confrontation in Ukraine as a factor in the turmoil in the markets.

And NATO announced, on Monday, that it will send more ships and combat aircraft to deploy in Eastern Europe, while the United States is considering strengthening its military presence in the region.

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