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The Oslo Stock Exchange has risen about 0.4 percent since the start of the first trading day of the year and, at most, was up almost one percent at opening hours. By early afternoon, the mood changed, and by closing time, the leading index had fallen by about 0.8 percent.
The drop was driven, among other things, by several actions in aquaculture:
- Mowi and Salmar fell 3.2 and 2.6 percent, respectively. Lerøy Seafood Group closed 1.3 percent lower, while Bakkafrost fell 0.4 percent.
- Today’s most-traded stock, hydrogen company Nel, was up about four percent.
- Equinor and Aker BP fell between 0.3 and 0.6 percent
The price of oil has also fallen dramatically throughout the day, after rising just under three percent in the morning. The price of a barrel fell to $ 51, down about 1 percent on Monday.
Price normalization
– Last year, willingness to take risks was unusually high. It will be exciting to see if it continues, investment director Robert Næss at Nordea tells DN.
When asked what kind of hopes he has for the stock market in 2021, Chief Investment Officer Næss says he expects normalization in a two-part market.
– The rise that growth companies had last year is a bit unnatural, but at the same time there are some segments in which it has not been the same party. It will be a question of whether you get a normalization or whether the trend of the past six months continues, says Næss.
Growing companies are often used to refer to companies that are trying to grow rapidly, either in the form of capital raising or acquisitions.
– If you have a wish for the 2021 trading year, what is it?
– I believe and want us to have a normalization of prices, for the market to put more emphasis on fundamentals and earnings in the coming years, and less emphasis on what just may become something.
Chief Investment Officer Robert Næss at Nordea. (Photo: Per Ståle Bugjerde)
In the rear view mirror
The result of the main index of the stock market was, therefore, an increase of 4.5 percent last year. Since 2000, the leading index has risen so little in a year just once before; in those years, the main index ended a year or so.
From 2014 to 2015, the increase was just under five percent, while the stock market ended up in deficit five times since the turn of the millennium.
However, counting from the bottom in March, when the pandemic first hit the markets, the Oslo Stock Exchange finished above 50 percent in 2020.
– You can go back 12 months and see what people like me said a year ago compared to what actually happened. We were “a long way off,” portfolio manager Kristian Tunaal at Alfred Berg told DN just before the new year. (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 can only be done with written permission or as permitted by law. For more terms, see here.
