November 27, 2022

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The Oslo Stock Exchange ended slightly lower

The Oslo Stock Exchange ended slightly lower

The main index in the Oslo Stock Exchange closed on Monday, down slightly by 0.39 percent.

The most heavily traded stocks today are Equinor, which is up 0.17 percent, Aker BP which is up 1.88 percent, and Rec, which is down 0.82 percent.

Today’s winner is Ice Group, which is up 22.35 percent. Today’s strong rally follows that The share has fallen to nearly 70 percent During the last week of November when the company announced that it would raise 2.5 billion NOK in new capital.

Shares of PCI Biotech Holding were the biggest losers on Monday. In closing, the stock fell 12.62 percent.

omicron

Last week was marked by an outbreak of the Omicron virus with severe turmoil in the markets, but this week has started somewhat quieter.

Omikron is part of the equation here. Omikron could create weaker economic development than the markets have been pricing in for a while. The indication remains so far that although it is more contagious, there are few indications that it is more dangerous than delta, says chief strategist Christian Lee at Wealth Management and continues:

The Federal Reserve is the most important. The surprise of the US Federal Reserve last week is that the economy and inflation are so strong that they want to step up and reduce government bond purchases.

– It’s a rhetorical turning point. While they previously indicated that they are in control according to developments in the labor market, they are now more concerned about inflation, he says.

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strong american economy

Friday ended with Decline on Wall Street. The tech-heavy Nasdaq fell particularly sharply, down 1.92 percent. However, after about an hour of trading on Monday, all major US indices rose.

The broad S&P 500 is up about one percent, the industry-heavy Dow Jones is up about 1.7 percent, and the technology-heavy Nasdaq is up about 0.4 percent.

Friday was disappointed with the latest job numbers from the US, often referred to as the “most important numbers of the month”. In advance, 550,000 new jobs were expected in November. The result showed only 210,000 new jobs.

The lie refers to the labor market report and indicates that at the same time that the number of new jobs has disappointed dramatically, the unemployment rate has fallen.

This helps support anxiety. A tighter labor market could help raise wages and provide a stronger inflation drive, he says.

Markets have been fond of stimulating inflation policy, but things are about to turn a bit. It is important to bear in mind that the situation will be worse if the economic outlook is weaker than it is.

The chief strategist thinks the US economy looks strong. He points out that the ISM index, the index that measures the expectations of US purchasing managers, last week was at an all-time high.

Meanwhile, real-time growth this quarter was 9.7 percent.

This model warns that the US economy will grow by 9.7% in the fourth quarter. He tells me it’s strong acceleration.

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In tremors and abducts

– How will the markets be affected by the new direction of the Central Bank?

– It’s hard to say. Markets are in turmoil. In fact, a lot of money still goes into the stock market. Especially in the US, where private investors continue to buy shares, despite the stock market’s decline. It’s a continuation of the “buy on dip” mentality, with many predicting that any drop in price represents a new buying opportunity, Lee says.

But there’s a bigger concern that can be tracked in the market right now. We see this in the Vix indicator, which is at relatively healthy levels. Additionally, it considers the scope of selling options.

It indicates that the correlation between buying and selling options is at the highest level since November.

This means that many more than before want to secure themselves.

Despite the uncertainty, European stock exchanges are set to rise today. What is the reason for this?

– I think the background here is that the signals we get are that the omicron is no more dangerous than the delta, and that most cases have a moderate course of the disease. If true, then the omicron can have a positive multiplier effect, and the financial consequences are actually diminishing.

– The second is that the “buy low” mentality persists, and the third is that we have a strong economic background in the United States. It is the largest economy in the world and has the largest financial markets in the world.

Asian tech stocks in trouble

Monday morning started mixed in Asian stock markets. The worst mood on the Hong Kong Stock Exchange, which fell 1.37 per cent, was affected, among other things, by the crisis-hit property conglomerate Evergrande.

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The share price fell about ten percent in the morning and was at an 11-year low of less than two Hong Kong dollars. The market value of the company, which was the most valuable real estate company in the world in 2007, is 31 billion NOK. Debts and liabilities are about 2,700 billion NOK.

Evergrande is not alone in dragging the stock market in Hong Kong. The Hang Seng index features technology companies such as Alibaba Group and Trip.com. Bloomberg writes that tech companies have been in trouble for a long time and are now dropping to new lows.

The Hang Seng Index is down 47 percent since its peak in February. 1,500 billion NOK have been removed from the market.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.