Oslo Børs with best day since March – E24

The main index on the Oslo Stock Exchange has risen more than one percent since the start of Monday morning, and the rise continued throughout the day.

The index received a significant boost after positive news about vaccines, and the increase is 4.43 percent as of Monday afternoon’s closing time.

Chief Investment Officer Leif-Rune Rein at Nordea Liv says he hasn’t seen any vaccine news that means more to the market.

– We were waiting for the day when this news would arrive, says Rein over the phone with E24.

Pfizer and Biontech report that sample data shows that their corona vaccine is 90 percent effective. The shares rose 6.6 and 10.3 percent, respectively, on Wall Street on Monday afternoon.

“The first results from our phase 3 testing of the COVID-19 vaccine provide early indications that the vaccine is capable of preventing COVID-19,” said a statement from Pfizer CEO Albert Bourla.

This is a breakthrough that could make the vaccine available for use before the end of the year if pharmaceutical authorities give it the green light, writes the Financial Times.

The stock market continues to rise the international stock market. US equity markets are rising, as are oil prices and European equity markets.

– This is very positive news for the market, says Chief Strategist Erica Blomgren at SEB to E24.

Equinor rises 7.5 percent

Of the stocks that contributed the most to the rise in the Oslo Stock Exchange, we have the oil giant Equinor, which has risen 7.51 percent.

Equinor has thus increased its market value by more than NOK 30 billion during Monday, to more than NOK 433 billion.

While the Mowi salmon stock was up 12.2 percent, the Nel hydrogen stock was up 0.29 percent this November day.

Renewable company Ocean Sun rose about 35.5 percent after Fearnley Securities advised investors to buy its shares. According to TDN Direkt, Meglerhuset writes that Ocean Sun is uniquely positioned for the next part of solar power growth.

Kahoot’s stock was among those that fell, with the price down 8.67 percent.

Norwegian action turned around

SAS’s stake has risen 26.18 percent in Oslo and 25.65 percent in Stockholm.

Before the opening of the Oslo Stock Exchange, the Ministry of Commerce and Industry announced that they would no longer provide financial support to Norwegian. Erik G. Braathen’s new company is not getting any more money from the state either.

Norwegian stocks fell sharply after the news, reaching their lowest level at 49 øre on Monday. The shares fell more than 20 percent in the morning.

The trend was completely reversed for Norwegian action after the novelty of the vaccine. The share price rose more than six percent, before falling again.

At closing time, the share price ended below 56 øre, down 13.23 percent on the day.

On the same day, the Oslo Stock Exchange placed the Norwegian stock under special observation. It will be until there is “more clarity” in the situation, according to a message from Børsen.

The state’s extraordinary contribution to aviation this year amounts to NOK 13 billion, says the ministry.

Aircraft stocks are increasing in the United States following the news of the vaccines. American Airlines and United Airlines were up 13.7 and 15.5 percent on Monday afternoon. Delta Airlines and Spirit Airlines are up 12 and 19.5 percent, respectively.

Southwest Airlines and Jetblue Airways are up 12.5 and 20.5 percent, respectively.

Follow a positive electoral wave

Just before the presidential election in the United States, a growing trend of infection has raised concerns, Blomgren says.

– This has caused major shutdowns, especially in Europe, which have economic consequences. The second wave we are seeing now shows that the financial recovery will be very fragile until a vaccine is applied.

Blomgren notes that the market has developed positively even before today’s vaccine news, based on the election results.

Boost of the stock market after electoral clarification

As before, Asian stock markets have rallied widely overnight, after Joe Biden was named the winner of the US presidential election this weekend.

The strongest rise was recorded in Japan, where the Tokyo Stock Exchange rose more than two percent. Here, the Nikkei index has reached its highest level since late 1991 overnight, according to Reuters.