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There was a big rise on the Oslo Stock Exchange on Christmas Eve, and the main index, which includes all the major Norwegian listed companies, reached a historic final price. The major index has never been higher at closing time, ending at 953.65 points after rising 1.58 percent throughout the day.
Intraday, the main index reached 953.68 points.
The stock market has risen towards the end of the year, and in recent days it has exceeded the previous historical peak, which was reached on January 20, 2020 with 949.01 points. That day, the index closed a bit lower, at 946.21 points.
December 18 was the highest intraday record with 951.52 points until Christmas Eve, the last trading day before the Christmas holidays.
Zenith Energy rose as much as 91.13 percent on the trading day following news that the company received a license in the Congo. The most traded stock today is the hydrogen company Nel, followed by REC Silicon and Norwegian Air Shuttle.
Challenge fear of viruses
The Oslo Stock Exchange has thus defied fears of the new variant of the virus in the UK. Before opening hours on Wednesday, there was disagreement among experts on whether the stock market should rise or fall. Closer to closing time, it became clear that the grim news from the crown was overshadowed by positive news such as the new crisis package in the United States.
As you know, stocks fluctuate throughout the day. It often happens that the index reaches the highest price throughout the day, before falling again slightly towards the end, perhaps when investors make a profit after the price rises.
The highest final price for the Main Index was on December 18, at 950.50, and it was a new record after 946.63 points, which was reached on January 17, 2020. This record was also broken on Christmas Eve.
Earlier this week, the mutated virus created uncertainty, especially in the United States, where the broad S&P 500 index fell three days in a row at closing time. On Wednesday this trend reversed and both the S&P 500 and the Dow Jones rose shortly after opening time. The Nasdaq Technology Index, on the other hand, fell cautiously.
– Almost incomparable
2020 has been a special year for the Oslo Stock Exchange.
– The year started very abruptly. The first quarter of this year was the worst first quarter in history when you look at the drop in prices. But the recovery we’ve had since is almost unmatched, communications manager Geir Aase said at the Oslo Stock Exchange early Wednesday, before the new record was hit.
There has also been a flow of new companies in 2020, up to 51 new companies have been included.
– This is the largest influx of startups we’ve had since before the financial crisis of 2008, says Aase.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content may only be done with written permission or as permitted by law. For more terms, see here.
