Oil price dives as do shares, krone

Shares traded on the Oslo Stock Exchange fell another 2.5 percent on Thursday, while the price of Norway’s North Sea crude oil remains in what many analysts were calling a “free-fall.” That, along with fears of higher interest rates in the US, has also sent Norway’ currency, the krone, to its weakest level against the […]

Analysts mixed on stock market fall

The Oslo Stock Exchange was battered this week like other stock markets around the world, following Wednesday’s dives in the US and Asia. One major Norwegian investor advised against doing any “bottom fishing” just yet. “Rising uncertainty tied to trade wars, rising interest rates and rising oil prices can accelerate the fall,” Jan Petter Sissener […]

Oslo stocks defied the oil price dive

Trading on the Oslo Stock Exchange ended the year slightly down this week, but the exchange’s main index rose 5 percent for the year despite the recent dive in oil prices. Strong gains in shares outside the oil sector “saved” the index while heavy volume set a new trading record. In a report from the stock […]

Mohn buys into Arctic Securities

One of Norway’s wealthiest businessmen, Trond Mohn, has brought a 12.5 percent ownership stake in Arctic Securities in Oslo, and will become part of the brokerage firm’s new advisory board. Arctic Securities boss Mads Syversen told newspaper Dagens Næringsliv (DN) on Friday that the firm wants to forge closer ties with business and finance leaders outside […]

Interest rates unchanged as stocks fall

The Norwegian central bank, Norges Bank, has decided to hold interest rates at 2.25 percent in light of continuing global economic uncertainty, despite having originally planned further rises this autumn. Interests rates were raised to 2.25 percent on 12 May and the bank’s plans had predicted further rises at the end of 2011. Meanwhile, the […]

Stock Exchange rallies despite fears

Norwegians have begun predicting the possible consequences of the unfolding drama in international markets for the country, as the Oslo Stock Exchange itself put days of successive falls behind it to close trading up 1.06 points to 348.05 on Tuesday. The index fell dramatically at the start of trading but rallied quickly, boosted by a […]

Oslo Stock Exchange continues fall

The Oslo Stock Exchange’s main index fell by 5.65 percent to 344.39 by the end of trading on Monday, as turbulence in the international financial markets continued and predictions that a new financial crisis was on the way gathered pace. In step with other European indexes, the Oslo Stock Exchange rallied during the morning after […]

Stocks and oil fund take further hit

The Oslo Stock Exchange (OSE) fell to a new low for the year on Friday despite promising unemployment figures from the USA, while the country’s sovereign wealth fund (often referred to as the “oil fund”) also suffered from the difficult international financial environment. The OSE ended Friday’s trading down 2.75 percent on 365.03 points, meaning […]

Economy prospers despite EU crises

UPDATED: Revised forecasts suggest that the Norwegian economy will do better than originally expected this year, giving many consumers more money than they may otherwise have had. Nonetheless, Norway is not immune to the destabilizing forces in the world economy as the Oslo Stock Exchange fell for the seventh day in a row on Thursday […]

Oslo stocks take another beating

The Oslo Stock Exchange returned from the long holiday pinse weekend to face another round of steep losses on Tuesday. Its main index was down 4.67 percent by mid-afternoon, and young investors seem to have lost interest in the market. The Oslo Børs lost 10 percent of its value last week and analysts had hoped […]