Expected to Fall on the Oslo Stock Exchange After New Stock Market Crash on Wall Street – E24

After the tech crash on Wall Street yesterday, there is also a general decline in Asian stock markets. The declines are particularly marked in Australia and on Chinese stock exchanges.

On Tuesday, the high-tech Nasdaq Composite fell as much as 4.11 percent. The index is now down ten percent over the last three trading days.

– If the sale of technology-related companies continues in the future, the Oslo Stock Exchange should perform better than many other stock indices. Namely, technology sectors on the Oslo Stock Exchange are very limited, writes Nordnet analyst Roger Berntsen on Wednesday morning.

The price of oil made the Stock Market fall

On Tuesday, there was also a sharp drop in the Oslo Stock Exchange after the price of oil plunged more than five percent during the day.

The main index closed 1.44 percent lower. At the same time, plastic recycling company Quantafuel rose above nine percent after DNB Markets raised its target price.

Finger sensor company Idex Biometrics became one of the stock market’s big winners, with a 28.61 percent increase. Shares soared after the company announced Tuesday morning that they had received their first order for the Trustedbio fingerprint sensor from a global card maker.

Keep falling

On Wednesday morning, the price of oil continues to fall and a barrel of North Sea oil (burned point) costs $ 39.44 at the time of writing this report. The price of oil has not been this low since the end of June.

– The Covid-19 pandemic continues to weigh on the oil market, says Berntsen on Nordnet.

He notes that the dollar has strengthened since North Sea oil traded at $ 46 a barrel, and that this may explain part of the decline.

“In any case, until an effective treatment for the virus is established, the oil market must depend on the ability of oil producers to keep supply under control,” says the analyst.