The Oslo Stock Exchange closed down 0.08 percent on Wednesday. On Thursday, the main index opened down 0.2 percent.
Throughout the day, the mood changed and the stock market was up 0.2 percent at 11 a.m.
Alexander Miller, chief investment officer at Odin Forvaltning, says general uncertainty is characterizing the stock market right now.
2022 was a miserable year in the stock market for most people, and the worst year in a long time. Miller says investors factored in a lot of bad news, and there was a lot of bad news.
Now you have it in the back of your mind that there is a slight possibility that everything will go well, he adds.
The Oslo Bors stands out as the only one that wasn’t in the red this year. At the end of July, Borsen is up 7.1 percent so far for the year.
Rising interest rates, recession and geopolitical tensions are affecting the markets, but the stock market here at home is on the rise. He adds that Oslo Borz is very special.
The price of oil is falling
Oil prices fell to their lowest level in several months after the OPEC meeting on Wednesday. There, the oil cartel agreed to increase the production quota by 100,000 barrels per day from September. The price of oil rose as soon as this news came out, and North Sea Brent oil, the reference price for oil trading worldwide, was trading at $101.68 per barrel.
The price rally quickly reversed, and the price has since fallen to $96 a barrel.
- oil giants Equinor And the Aker BP Both fell about 2 percent in the Oslo Stocks on Thursday. energy sector falls 2.4 percent.
- Wednesday was a difficult day for the oil company Norikoor the Norwegian Energy Company, which Fell in the Oslo Stock Exchange After the notification of the delay in the Danish gas project. Norico shares closed down 20.6 percent. The decline continued on Thursday, and the stock fell more than 6 percent.
- Airlines Norwegian It is part of the upward trend among investors in Oslo Poor’s. Before the stock market opened, the company provided traffic numbers for July — the airline carried just over 2.2 million passengers in July. The numbers come from Norway after Widerøe announced on Wednesday that it had done so Received up to NOK 20 million from SAS strike. The Norwegian share rose about 4 percent on Thursday.
- Lomi group, formerly known as Sonans Holding, fell 40 percent on the Oslo Stock Exchange on Thursday. This happens after the company announced in a stock market announcement a 30 percent drop in sales revenue this year, compared to last year.
- hydrogen company Haiyun It is up 120 percent on the stock exchange recently. On Thursday, the stock fell 6.8 percent.
Climbing in Europe
On the other hand, there is a significant rally in European stock exchanges on Thursday. Germany’s DAX rose 0.87 percent, while the Paris stock index rose 0.2 percent.
On the London Stock Exchange, the mood is expected to be cooler in anticipation of whether the Bank of England will raise its key interest rate later today. The FTSE index is stable so far.
In June, the key interest rate was raised by 0.25 percentage points to 1.25 percent.
In large parts of the world, inflation has risen to high levels, among other things as a result of the reopening of the economy, crisis measures during the pandemic, supply chain problems and the war in Ukraine. Many central banks are now raising interest rates to slow inflation.
Asian stock markets rise
Investors are closely following developments around the Taiwan crisis. Today, China began extensive military exercises outside and inside the territorial waters of Taiwan. The exercises will continue until Sunday and are seen as a clear sign of opposition to the visit of prominent US politician Nancy Pelosi.
So far, there has been minimal reaction in the financial markets. The main index on the Taipei Stock Exchange was down 0.5 percent Thursday morning.
According to Taiwan’s Ministry of Defense, Chinese drones have been spotted over the coastal area outside Taiwan.
“This is like an air and sea blockade of Taiwan,” a source told Reuters.
Otherwise, technology optimism is driving the Asian stock markets. The Hang Seng Index rose 1.45 percent on Thursday. The technology companies sub-index rose about four percent Thursday morning.
China’s Shanghai index rose 0.15, while Japan’s Nikkei rose 0.5 percent.
Mood on Wall Street
The three trend-setting indices opened with gains on Wednesday, and when news arrived shortly after the market opened that positively surprised the market, the mood rose dramatically: the US ISM Services Sector PMI was 56.7 in July. In advance, the index was expected to be 53.5, according to Trading Economics.
It gave stock exchanges a real boost, and at the time of closing, the broad S&P 500 was up 1.56 percent, while the industry-heavy Dow Jones was up 1.28 percent. On the other hand, the tech-heavy Nasdaq rose 2.59 percent. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using the links that lead directly to our pages. All or part of the Content may be copied or otherwise used with written permission or as permitted by law. For additional terms look here.
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