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The Norwegian stock market has lagged behind the markets of Sweden, Denmark and the US, but on Friday the stage was set for a new better price here at home as well.
RECORD: Oslo Børs reached a new record on Friday.
Håkon Mosvold Larsen / NTB
The Oslo Stock Exchange closed the trading day up 0.88 percent to 950.50 points on Friday.
It marks a new best list for the Norwegian market, which has brought a crown loss throughout the year and a bit more.
The Oslo Stock Exchange fell from more than 940 points in January to 636 points at its lowest point in March, before sentiment began to shift again.
However, the Norwegian stock market has lagged behind other markets. The Swedish stock exchange set new records in early November, while the Danish market returned to the higher level this summer.
In the US, stock market records have been on the rise throughout the fall.
The inflection point
Danske Bank chief strategist Christian Lie believes there was a turning point when central banks and public authorities intervened with massive support packages to save economies.
– Helped change the mood in the markets, tells E24.
When markets started to rise again, it was first big tech companies, pharmaceuticals and the company like Amazon that got a boost, while sectors like finance and energy, which are big on the Oslo Stock Exchange, were they were left behind, Lie says.
– Testifies that investors have been cautious for some time with so-called cyclical stocks, which are dependent on the improvement of the economy.
However, with the improvement in the economy and positive news about vaccines, finance and energy have gained momentum, especially recently, which has been positive for the Oslo Stock Exchange, according to Lie.
– It wasn’t until November, after three straight Mondays of positive vaccine news, that the investor really opened his eyes to energy and finance again. It has been redemptive for the Oslo Stock Exchange, he says.
Chief strategist Christian Lie at Danske Bank.
Cicilie S. Andersen / E24
– You have to be careful
– The market has reached very high. And it’s vulnerable to interest rates, something that hasn’t been the case since the early 2000s, says chief strategist Peter Hermanrud at Sparebank 1 Markets.
Previously, it was a 20-year period in which the market was heavily dependent on interest and now it is again the central bank that controls the stock market, according to Hermanrud.
It comes with a warning about the market.
– You have to be careful now. All traditional measures say it is expensive. Stocks are the best of bad options. We value the good growth of the economy and low interest rates, but while it lasts, there will be more to follow.
