Monday, May 16

The Oslo Stock Exchange is accelerating upwards

The stock market rises markedly after a gloomy start to the week.

Published:

Around two hours into the trading day, the Main Index is up 1.66 percent.

– The only thing that is certain is that it will fluctuate. It will be fresh, says investor Peter Hermanrud to E24, shortly before the stock market opens.

The price of oil has also risen throughout the day. At 11 o’clock, a barrel of North Sea oil (burnt spot) costs $ 87.54 a barrel, an increase of 0.57 percent from midnight.

Oil giant Equinor is up 1.32 percent, while Aker BP is up 1.11 percent. The two companies are most traded on the Oslo Stock Exchange.

Otherwise, Nordic Semiconductor rises 2.47 percent, as Børsen’s third most traded. Norsk Hydro and MPC Container Ships follow behind, with an increase of 2.90 and 1.55 per cent respectively.

Dramatic day

The last 24 hours have been a very turbulent one for the world’s stock markets. On Monday, the Main Index fell 3.45 percent, but it was only a foretaste of the evening the American stock exchanges had to offer.

At worst, the Nasdaq 100 index was down nearly five percent, before a historically strong reversal began. Eventually, all the US indices ended in green.

On the Asian stock markets, however, there has been a sharp decline in the morning hours.

The complete turnaround in the USA yesterday may mean that the fluctuations and unrest will continue today, says Investment Director Leif-Rune Rein in Nordea Liv.

– It does not usually last when you get such a collection. Had it ended up falling four percent yesterday, it might have been the end. It may well be that you get volatility even now.

– Such unrest as we see now often lasts for a few months. There will probably be some turbulence going forward, but we are not heading into a downturn. It will not be very long lasting.

He also adds that the quarterly season in the US has started well, and that it can help when it gets off to a good start.

– But it may well be that we get an interest rate hike from the US Federal Reserve before the market calms down again.

Renteuro

The market is waiting for the US Federal Reserve to make this year’s first interest rate decision on Wednesday night. It is expected that the central bank may signal that interest rates will rise at the next interest rate meeting in March.

Before Christmas, the central bank started a normalization of monetary policy after the corona crisis, when it started phasing out support purchases.

Belief in interest rate hikes as early as March has gradually increased as inflation figures from the United States have been published. Earlier this month, it was reported that inflation rose seven percent in December, the highest level since 1982.

The uncertainty of a military confrontation in Ukraine is also cited by many as a factor in the turmoil in the markets.

On Monday, NATO announced that it would send more ships and fighter jets for deployment in Eastern Europe, while the United States was considering strengthening its military presence in the area.

also read

Sharp stock market crash in Asia

Reference-www.aftenposten.no

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