The Oslo Stock Exchange followed European stock exchanges and Wall Street downwards, while several countries reported increased cases of infection.
Published:Updated: October 26, 2020 4:34 PM, Published: October 26, 2020 12:50 PM
The Oslo Stock Exchange fell sharply from the start on Monday morning, and the decline has intensified during the day.
At the close, the Main Index was down 3.09 percent to 832.41 points.
Of the shares that contributed most to the fall, we have Equinor, which was down 3.99 percent. The company will close its gas plant outside Hammerfest for up to one year after the fire in September. In addition, oil prices are falling.
Since midnight, one barrel of North Sea oil (burnt) has lost in price by 3 percent, and is traded for 40.4 dollars in the spot market.
DNB also fell sharply, and the major bank’s share price was down 3.07 per cent at the end of the trading day.
The salmon share Mowi fell 4.79 per cent, the telecom share Telenor was down 2.08 per cent, while the hydrogen share Nel fell 7.11 per cent.
The European stock exchanges are also declining the same afternoon, with the Frankfurt stock exchange down 3.5 percent.
The arrows are also pointing down Wall Street, with the S&P 500 down two percent. That after a weekend with a record number of new cases of infection in the USA, according to CNBC. France has also reported record high cases over the weekend, while both Italy and Spain introduced stricter restrictions.
Decline for stock market debutant
When trading started this Monday, it is with the newcomer Ocean Sun, which has its first day on the Oslo Stock Exchange. The solar cell company was listed on Merkur Market when Børsen opened at 9 o’clock.
In advance, the company has raised NOK 100 million in a share issue with a subscription price of NOK 18 per share.
The share ended the day at a price of NOK 14.99 and Ocean Sun has thus fallen 16.7 percent.
In addition to the oil price, the stock markets in Asia went down on Monday morning. They are characterized by flare-ups of corona on both sides of the Atlantic. In addition, many investors are waiting in the run-up to the US presidential election.
The stock market decline in Oslo comes at a time when the stock market is weighing globally. Both other European stock markets and Wall Street are down significantly on Monday.
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