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Tuesday, May 24, 2022

Stock market recovers some losses

The Oslo Stock Exchange (OSE) opened the week much better than last week, with share prices up from the start instead of diving on more Corona virus scares. The upswing followed those in Asia, but it didn’t last through the day.

State broadcaster NRK reported how the OSE index rose 3.5 percent when it opened, but then share prices fell enough again to negate most of the gains. The index closed at 833.83, up 0.43 percent. The price of a barrel of North Sea Brent crude oil also rose 5.21 percent, to USD 52.26, and the kroner gained some strength as well but was still trading at around NOK 9.31 against one US dollar.

Several major Norwegian companies also logged gains, with Equinor up 2.34 percent to close at NOK 144.55 per share, and Norway’s biggest bank DNB up 1.67 percent to close at NOK 158.50. Both were on the most-traded list including Telenor, which also closed up 0.40 percent.

newsinenglish.no staff

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