Lately, it’s been a rollercoaster at the stock exchange: Friday was the worst day on the stock exchange so far this year at the Oslo Stock Exchange, followed by a rally on Monday, with shares pointing again lower on Tuesday.
Immediately after the opening of the stock exchange on Wednesday, the main index in the Oslo Stock Exchange rose by 0.80 percent, and the price of oil rose by 2.33 percent.
– After the stock market fell yesterday in the US and Europe, Asian stock markets are recovering this morning. SEB reported in its morning report on Wednesday that Chinese stock exchanges are above the zero line, and Japanese stock exchanges are up nearly 1%.
The good news brings Softox courses
Immediately after the stock market opened, Softox shares rose 10.4 percent. This happens after the company announced that the European Union is opening up to the use of the company’s disinfection products
This is good news for Softox. We are of the opinion that the European Commission assessment will now enable us to make our products available on the market so that we can fulfill our obligations under the agreement with hospital purchases, the company wrote.
On Wednesday morning, before the stock exchange opened, news came of the Norwegian entering into an agreement to lease two Boeing 737 Max aircraft. The aircraft will be delivered to the company soon. In the past week, Norway’s share has fallen by about ten percent.
Immediately after the opening of the stock exchange, Norway’s share rose by 1.09 percent.
From one night to Wednesday, news also surfaced that Rec Silicon CEO Tore Torvund had resigned after twelve years. The current Chief Financial Officer, James A. May 2, acting CEO role. When the stock market opens, the stock rises 0.55 percent.
US Federal Reserve Governor Jerome Powell appeared on Tuesday afternoon at a US Senate hearing. In his prepared speech for the hearing issued yesterday, he emphasized that Omicron poses a threat to the US economy.
“The increase in the number of new coronavirus cases and the emergence of the omicron variable poses a negative risk to employment, economic activity and the uncertainty surrounding inflation,” she added.
The US Federal Reserve’s acknowledgment that the risk that inflationary pressures are not quite as temporary as we initially assumed, and that they will therefore have to consider a faster phase-out of stimulus measures and an early upward adjustment of interest rates, has already sent the stock market weighed down by pandemic fears and surveyed confidence The disappointing consumer fell further, DNB wrote in its morning report.
Uncertainty creates turmoil
The recent market turmoil is particularly related to the news regarding the new omikron virus variant, which is creating uncertainty among investors. Stéphane Bancel, president of Moderna, said Tuesday that he believes vaccines will have a much smaller effect against the omicron variant. He also believes it will take months before drug companies can mass-produce a new vaccine that specializes in different types of virus.
Pål Ringholm, head of analysis at Sparebank1 Markets, points out that the uncertainty is creating turmoil in the stock market.
Although we are exceptionally well trained in this and vaccinated, there is still room for maneuver and uncertainty. Until we get the insights in mid-December, it’s not unreasonable to think that you’re getting nervous in the stock market and that it can fluctuate, Ringholm told DN Tuesday afternoon.
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