November 29, 2022

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This will affect the Oslo Stock Exchange on Monday

This will affect the Oslo Stock Exchange on Monday

Among the pre-trading on the IG trading platform, the Oslo Stock Exchange was up 0.6 percent just before 07 Monday.

Roger Berntsen of Nordnet believes that the Oslo Stock Exchange will open 0.6, or within the period [0,4, 0,8] percent.

The analyst notes that US stock markets rose significantly on Friday, hoping times will improve.

Many investors took the opportunity to buy “cheap” shares, that is, shares that fell sharply in a short time. Although the stock markets are forward-looking in nature, it is not a given that the bottom has been reached this time,” he points out.

It also indicates that the signals from this weekend’s G7 meeting excited investors in Asia last night.

“It is natural to assume that optimism in Asia tonight, not least the United States on Friday night, will affect stock markets in Europe today. The G7 nations, led by the United States, announced yesterday their ambitions for a large-scale infrastructure package worth $600 billion, in response to an expansion China International,” Berntsen wrote.

Asia

In Japan, the Nikkei rose 1.38 percent, while the broader Topix rose 0.96 percent.

China’s Shanghai Composite Index is up 0.88 percent, Hong Kong’s Hang Seng Index is up 3.15 percent, and South Korea’s Kospi is up 0.93 percent.

In India, the Sensex Index is up 1.32%, the S&P/ASX 200 Index in Australia is up 1.99%, and the Straits Times Index in Singapore is up 0.60%.

Read the full update for Asia here.

oil prices

Brent oil rose 0.06 percent to $113.19 a barrel on Monday morning, while West Texas Intermediate crude rose 0.03 percent to $107.65 a barrel.

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By comparison, a barrel of North Sea oil was trading at $112.97 a barrel at the close of trading in Oslo on Friday.

Wall Street

Recession and inflation warnings issued by US Federal Reserve Chairman Jerome Powell on Wednesday and Thursday do not appear to have caused long-term concerns among investors. Friday ended with a strong rise for the leading indicators.

The Standard & Poor’s Index rose 3.1 percent to 3,912.15, and the Nasdaq closed 3.3 percent at 11607.62. The Dow Jones index jumped 2.7 percent to 31503.71.