Stock Market Rise in Oslo – E24

The stock market ended up higher, at the same time that the results of the US presidential elections are still unclear.

The leading index rose 1.47 percent to 841.57 points, after oscillating later that day.

The stock market opened with a drop, before the trend reversed. The increase gained momentum after trading on Wall Street opened.

US stocks are on the rise, and the tech giants especially are on the rise.

READ ALL ABOUT THE US CHOICE on E24’s Live Studio

Oil prices are rising

The other European stock exchanges are also on the rise, after Asian stocks rose this morning.

The price of oil rose again on Wednesday morning, after falling last night. A barrel of Brent oil from the North Sea costs $ 40.61, an increase of 1.07 percent on the day.

Hydrogen Nel share ended as the most traded share on the Oslo Stock Exchange, and the price rose 4.93 percent. The oil giant Equinor followed, which rose 0.52 percent.

DNB and Telenor rose 0.26 and 1.31 percent, respectively. Rec Silicon was also among the most traded stocks, which ended up 2.77 percent.

Mowi released quarterly figures Wednesday morning and fell nearly 2 percent in early trading, but the shares rallied and ended up rising 0.95 percent. The company had a decrease in operating profit and will not pay dividends in the quarter.

Multiconsult had a strong profit improvement in the third quarter and was up 8.16 percent.

Result still unclear

It is not yet clear who will flee with the victory in the US elections, but overnight Trump’s optimism has taken hold of the stock markets.

This is the second time in a row that the stock market has risen after the US presidential election.

Since 1996, the Oslo Stock Exchange has had three days of recovery after the US presidential elections and three days of decline. With Wednesday’s rise, the Oslo Stock Exchange will have risen four out of seven times in the last 24 years.

In the betting market, the label favorite changed from Biden to Trump overnight, but on Wednesday morning the wind changed again and Joe Biden now remains a fairly clear favorite.

The odds of a Biden win dropped to 1.22 at Betsson Wednesday afternoon, while Trump’s odds of winning at the same time are 4.50.

The most important thing is a clarification.

A decision in the presidential elections that is prolonged will be negative for the market, several analysts believe, and the most important thing is to clarify who is the winner.

– It is a bit special at the moment, as you have ended up in the situation you could have feared in relation to the market, as this is currently unclear. In that regard, it is strange that markets are reacting so positively, chief investment officer Leif-Rune Rein at Nordea Liv told E24 this morning.

So both the Asian stock markets and the futures on Wall Street were an advantage.

But markets may have started to price a clarification in a reasonable amount of time, he believes.

– It seems that markets like the ones we are close to completing with this, said Rein.

See E24’s interview with DNB Senior Economist Knut A. Magnussen below:

Mowi also lowers dividends for the third quarter