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Norwegian stocks follow the main index down into negative territory on Wednesday.
published:,
The main index falls 1.11 percent from the start on Wednesday after Tuesday’s gain.
Norwegian stocks started the day up 4.17 percent, but after two minutes the trade turned negative and was down 5.3 percent at time of writing, and is trading at a price of NOK 4 , 35 per share.
On Tuesday, the airline’s share increased 44.38 percent to NOK 4.60 after the company submitted a proposal for a crisis solution last week. Tuesday’s dramatic decline comes after the airline crashed, falling 88.86 percent so far this year.
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Among the most heavily traded stocks, the Equinorsom heavyweight fell 2.86 percent on Wednesday, followed by Nel rising 2.37 percent.
The IMF predicts that the crown crisis will cause the world economy to shrink by three percent this year. This is an increase of 6.3 percentage points compared to the January report. Overall, for 2020 and 2021, the economic loss associated with falling GDP could amount to around $ 9 billion (NOK 92 billion).
Oil service companies lose
A barrel of North Sea oil currently costs $ 29.43 per barrel, 1.97 percent per day.
– Many players believe that the historic Easter oil deal between OPEC + and the G20 countries is not enough to balance the market in the short term. This has contributed to a drop in prices in the last 24 hours, writes Nordnet analyst Roger Berntsen in his morning report.
At the same time, he believes that oil producers expect and believe that today’s surpluses will flow to the world’s strategic oil reserves and that demand will gradually return as the crown situation improves.
– Also, “all” producers are now in cut mode, which in itself is positive. The biggest loser these days are companies whose business model is solely to serve the oil industry, he adds.
The case is constantly updated during the day of the stock market.
Read the morning report here.
