SSP numbers It shows that foreign investors from the third quarter of 2022 to the second quarter of this year sold shares on the Oslo Stock Exchange for approximately NOK 57 billion more than they bought them for.
In other words, Oslo BORSE’s net share sales during this period amounted to approximately NOK 57 billion. In the second quarter of this year, net sales amounted to $21.7 billion.
Foreign investors have sold every quarter of last year.
The new EU proposal will hit Norway hard: – Absolute madness
to the fullest
On the one hand, you could say that it is too much for foreigners to sell everything for four quarters in a row. Never before. On the other hand, they have bought a lot before that. If you look at the total market value of their investments, they are at record high levels, says investment manager Robert Ness at Nordea to Nettavisen.
Below we have reproduced the net buying and selling of shares to foreigners in Oslo Børs since 2012 (quarterly figures). red columns Net sales means that sales are greater than purchases.
As we can see from the chart, in the past year alone we’ve had a lot of consecutive quarters with sales.
Ness says that Statistics Norway does not say anything about the types of shares foreign investors are selling.
Lasse Kjus with a big investment – now the money is gone
– But I checked the oil companies, and they seem to be net sellers, he says.
Ness says that if you just look at the numbers, there are two ways to interpret them. The first is that Norway has shifted from an attractive investment area to a less attractive one.
In this case, it could be due to things like tax discussions. On the other hand, it could be as simple as the fact that international investors bought so many shares in Norway that it was normal to get rid of them.
Investor and manager Jan-Peter Sisner says rising political risks are certainly one of the reasons behind foreigners pulling out.
They lost 2.2 billion: – Unfortunate
Not on the agenda of politicians
Value creation is not on the agenda of politicians. And when Norwegians move and don’t invest, why would a foreign investor do it? Cessner asks rhetorically.
– In addition, we have unattractive companies, the krone is unpredictable and its value fluctuates a lot. There could be many reasons, he continues.
Anders Johansen, equity strategist at Danske Bank, believes that the main reason for the sell-off is
– Foreigners sell typical Norwegian commodity sectors. This is due to the sectors that performed best this year and uncertainty about global growth. This uncertainty makes Norway vulnerable to foreigners due to fluctuations.
– Normally, the Norwegian stock market fluctuates a lot with the economy, says Johansen.
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