Two percent drop – E24

Two percent drop – E24

Norsk Hydro has overtaken Telenor in the market, and is now the third largest on the stock exchange.

Hydro Aluminum Høyanger uses recycled aluminum in production.


The stock market started the day with a decline that increased after an hour of trading. The main index fell in 10 times 2.06 percent.

Heavyweights such as Equinor (-1.33%), Aker BP (-2.04%) and Yara (-3.04%) are sending the exchange lower on Friday morning.

Norsk Hydro has overtaken Telenor in the market, and is now valued at NOK 187 billion. One of the reasons is the sharp rise in commodity prices. Norsk Hydro is benefiting from higher aluminum prices, which are now at a record high. The price of a ton of aluminum finished at $3,766 on Thursday.

Hydro’s share decreased in 10 times 0.86 percent.

  • Norwegian released figures in the morning hours, and ticket sales in February reached the highest level since the outbreak of the epidemic in March 2020. It carried 640,000 passengers. The share fell 4.68 percent after the latest traffic numbers.
  • The Green Energy Group was awarded an OBN source contract and received a notice to cancel another contract. The stock rose 3.8 percent after news of the contract.

Uncertainty in Ukraine on Friday also pushed Asia-Pacific stock markets to a 16-month low.

The Moscow Stock Exchange will remain closed until Tuesday, March 8, Bloomberg wrote on Friday morning. She explained that the stock exchange has been closed since February 24, which is a new national record news agency.

stable oil price

Oil prices recorded around $110 a barrel on Friday morning, after falling from nearly $120 a barrel on Thursday. At the same time, Brent oil is trading flat compared to the closing time of the Oslo Stock Exchange yesterday.

It became known during the night that a fire broke out at the Zaporizhia Nuclear Power Plant in Ukraine after fighting in the area. Meanwhile, it was reported later on Friday morning that the fire had been put out, according to international media.

Platts noted that oil prices rose after news of a fire at the nuclear power plant, but fell slightly after news that the fire was out.

At the same time, it was announced yesterday that the US nuclear deal with Iran may be nearing its final stage.

“We are on the cusp of a potential deal,” US deputy spokeswoman Galina Porter told reporters on Thursday, but she also cautioned that outstanding issues remained.

Jeffrey Haley, a market analyst at OANDA, wrote, according to Platts, “The oil price has fallen in New York on the hope that an Iran nuclear deal is imminent, but I think Brent oil prices will remain well supported at $110 a barrel.”

“Iran could get a nuclear deal this month, meaning that 80 million barrels of oil it has in storage could reach the market very soon,” Edward Moya, an analyst at OANDA, wrote in a note.

On Thursday, developments on the Oslo Stock Exchange were initially shaky, but gradually the shares were clearly heading lower. The main index ended down 1.26 percent.

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Dalila Awolowo

Dalila Awolowo

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