Never has there been so much share trading in Norway as there was last month. The Oslo Stock Exchange (Oslo Børs, OSE) sent out a report on Monday detailing its busiest month in history.
The exchange reported that large swings in share prices also contributed to a new record in the number of trades in October. Investors generated an average of 131,503 trades every day on The Oslo Stock Exchange during the course of the month, firmly breaking the previous record of 120,800 average trades set in August 2011.
The average daily value of share trading landed at NOK 5.8 billion in October, the highest level reached since 2011.
The number of trades in October was up 81 percent over October last year, according to the report from the stock exchange, while currency trading of the Norwegian krone was up 64 percent.
Large swings in the share prices of stock listed on the Oslo Exchange always contribute to heightened activity, the exchange noted, and it was “unusually high” in October. The month recorded both the single worst day since the spring of 2012, when the market fell 2.82 percent on October 2, but also the best day since the fall of 2011, when it rose 3.89 percent on October 17
The month also registered the biggest monthly decline since June of last year in the Oslo Stock Exchange’s main index, which fell 4 percent. The overall index, however, is up 6.6 percent since the beginning of the year.
newsinenglish.no staff
