Return of the Oslo Stock Exchange after yesterday’s recession – E24

After a positive day in the stock market, the leading index was up 1.77 percent to 857.53 points.

DNB stood out in early trading with a drop of more than one percent. This came after the Finance Ministry again asked banks to cut dividends. At the end of the trading day, the stock ended up 0.18 percent.

Oil giant Equinor benefited from higher oil prices. The stock, which became the most traded on the Stock Exchange, ended the day with a rise of 4.19 percent.

At the same time, the Quantafuel Stock Exchange winner continued to rise. The stock was up 21.50 percent during the trading day on Wednesday. The company that recycles plastic announced Tuesday morning that operations in Denmark have begun. The stock rose above nine percent on Tuesday, after DNB Markets raised its price target.

Solstad Offshore was up around 20 percent during the trading day after the company announced that it is offering to buy back NOK 967 million in outstanding debt from some investors for a price of up to NOK 69 million. After the sharp rise earlier in the day, the shares ended the day up 4.49 percent.

On Tuesday, finger sensor company Idex Biometrics was one of the stock market’s big winners, up 28.61 percent. 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.

The next day, the hangover replaced the applause, and stocks ended the day down 7.26 percent.

The price of oil recovers

After a relatively dramatic drop in oil prices, the slide continued on Wednesday.

However, shortly before ten o’clock, he got back upstairs. At the time of writing, the price is up 0.28 percent and a barrel of North Sea oil costs $ 39.83.

The staggering drop in oil prices on Tuesday sent oil prices down to their lowest level since June 16: $ 38.94 a barrel.

– The Covid-19 pandemic continues to weigh on the oil market, Berntsen told Nordnet as the price of oil continued to fall on Wednesday morning.

He noted 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.

Positive start on Wall Street

After the tech crash on Wall Street on Tuesday, there was also a broad slide in Asian stock markets on the twig of the morning. The declines were particularly marked in Australia and on Chinese stock exchanges.

But in both Europe and Wall Street, the mood is suddenly considerably better on Wednesday afternoon.

At 4.20 pm, the Nasdaq is up about two percent after the heavy previous day. Tesla stock, which saw a 21 percent drop on Tuesday, returns very little Wednesday with a 7.1 percent gain.

Developments in US stock exchanges now mean that tech giants are coming out of correction mode after several days of sharp declines.