On Wednesday morning, the Oslo Stock Exchange rose cautiously from the start, after the main index closed with an increase of just over one percent on Tuesday.
In the morning hours, however, the mood is reversed, and the main index falls around one percent.
- Aluminum giants Before the stock exchange opened, Norsk Hydro presented results for the second quarter, and rose around 3.7 percent at opening. At 10.20 the share falls around 0.8 percent. In advance, it was expected that the underlying operating profit (ebit) would more than halve to NOK 330.4 million, while the final result was an underlying operating profit of NOK 949 million.
- Norwegian falls around one percent.
- The oil companies Equinor, DNO and Aker BP all fall more than 0.5 percent.
- The advertising company Adevinta, which on Tuesday landed a billion deal with Ebay, the rise continued immediately upon opening, but it did not take long before it turned around. The share falls around three percent, and is traded at about 141 kroner.
The oil price has fallen slightly from the closing price on Tuesday, and is trading at around 44 dollars a barrel. On Tuesday, the barrel price of North Sea oil reached its highest level since before the corona.
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Mixed in both Asia and the United States
In advance, analyst Roger Berntsen at Nordnet expected the stock market to open flat, pointing to falling indices in Asia.
– Thus, there is no traction to get from that region today. That said, the earnings season continues with full force internationally, which could change sentiment throughout the day, he writes in a morning report.
TDN Direkt, for its part, expected a decline from the start, and points out that the oil price has fallen by about half a dollar per barrel since the close of trading on Tuesday. According to TDN, IG Markets futures indicated a decline of around 0.51 percent from the start.
In the US, the three leading indices on Wall Street – the industry-heavy Dow Jones, the technology-heavy Nasdaq and the broad S&P 500 index – closed mixed on Tuesday night Norwegian time. It was the energy shares that led, and the oil companies Exxon Mobil and Chevron both rose more than five percent. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For additional terms look here.
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