The main index falls on the last trading day of the week: – The atmosphere is quickly sour today

The main index falls on the last trading day of the week: – The atmosphere is quickly sour today
The main index falls on the last trading day of the week: – The atmosphere is quickly sour today

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The main index on the Oslo Stock Exchange has fluctuated well this week, which ended down 0.36 per cent to 1,159.05 points on Thursday.

On the last trading day of the week, the main index opened with a slight decline, but fell sharply down 1.37 percent before an hour had passed.

Oil prices fell slightly in the morning, trading at $89.85 per barrel. The oil price has hovered around 90 dollars this week.

Heavyweights Equinor, Hydro and Aker BP fall on Oslo Børs on Friday. Equinor is down 2 per cent, Hydro is down 0.4 per cent, while Røkkes Aker is down 3 per cent.

The energy sector on Oslo Børs falls 2.5 per cent.

The oil company Vår Energi, which before the opening of the stock exchange announced cost increases and delays related to the Balder project, falls 2 percent.

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The wind and water energy company Cloudberry Clean Energy announced in the morning hours that it raised NOK 800 million after the stock exchange closed on Thursday. The fresh money will be used to complete projects, according to the company. On Friday, the share fell 7 percent on the stock exchange.

Nasdaq Stockholm, i.e. the Stockholm stock exchange, has imposed a fine on SAS for the airline’s information handling in connection with this summer’s pilot strike. This appears from a stock exchange announcement from SAS on Friday morning. The SAS share on the Oslo Stock Exchange rose 0.93 percent after the announcement.

Getting angry at interest rate meetings

The many interest rate increases from central banks around the world have had an impact on the stock market. The last trading day of the week ends with further turbulence and negative sentiment in the stock market.

– It can quickly become a sour mood on the stock exchange today. There has been a lot for the stock market to digest this week, says analyst Joachim Bernhardsen in Nordea Markets.

Analyst Joachim Bernhardsen in Nordea Markets. Photo: Per Ståle Bugjerde (Photo: Per Ståle Bugjerde)

It is in particular the interest rate decision from the US central bank the Federal Reserve (Fed) that has affected the stock market this week. The Fed sharply adjusted the interest rate path and gave an economic warning

– The Fed’s interest rate decision was even more aggressive than the market had thought, and then the mood in the stock market sours, says Bernhardsen.

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– It is the central banks and the interest rate market that currently define the stock market. There was an extremely strong rise in interest rates, says Bernhardsen.

The interest rate on the American ten-year bond shot up after the central bank’s triple increase in the key interest rate, and is now trading at around 3.7 per cent – ​​the highest level since 2011.

– With a marked increase in long-term interest rates, it often ends with a decline in the American stock market, says Bernhardsen.

Broad decline

All three leading stock exchanges in the US fell after the interest rate meeting on Wednesday, and further yesterday. The S&P fell 0.8 percent, closing at its lowest level since June. Industry-heavy Dow Jones ended 0.36 percent, while technology-heavy Nasdaq fell a whopping 1.37 percent.

Higher interest rates mean that the risk capital has almost completely disappeared, which particularly affects the technology companies, where more critical questions are now being asked about the valuation of many of these companies. On Thursday, banking and finance shares also fell markedly, partly on fears of loan losses.

The Asian markets have followed along further down during the night, and S&P futures are also in the red on Friday.

The major indexes in Asia are flashing red for the third day in a row. Japan’s Nikkei is down 0.5 percent. The Hang Seng index in Hong Kong falls 0.5, while China’s Shanghai is down 0.3.

The Tokyo Stock Exchange is closed after it intervened in the foreign exchange market after the markets closed on Thursday by buying Japanese yen and thereby strengthening the currency.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.

The article is in Norwegian

Tags: main index falls trading day week atmosphere quickly sour today

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