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Wednesday, April 17, 2024

Oslo stocks spring forward

The Oslo Stock Exchange (OSE) enjoyed its best trading day of the year on Monday, when the first day of March signaled a good start to the spring after a long, cold winter.

OSE’s main index jumped 2.7 percent to 359.9 in active trading. Oil prices have risen to nearly USD 80 a barrel in the US and USD 78 in Europe, and a strong oil price almost always helps boost Norwegian stocks because of the country’s oil industry. State oil company Statoil saw its share price jump 2.1 percent, to NOK 135.30.

Eight of the 10 most active shares on the Oslo exchange ended up on Monday, thanks also to strong activity on other stock exchanges around the world.

One company that saw its share price fall again, however, was solar firm Renewable Energy Corp, REC. It’s been facing what one Norwegian analyst told financial news service TDN Finans was a “bearish” market for the solar industry at present. REC’s share price fell 4.58 percent to NOK 20, its lowest level so far this year for a company that once was a bright spot on the OSE. 

By Views and News staff



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