Norway's stock market finished the trading day slightly in the black on Wednesday, with sector-led gains nudging the benchmark up by a slim margin.
At the close in Oslo the Oslo OBX index was up 0.06%. Sectors that contributed to the upward move included Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities.
Individual movers on the Oslo OBX included Nel ASA (OL:NEL), which advanced 2.53% - a 0.06 point increase - to finish at 2.44. Subsea 7 SA (OL:SUBC) climbed 2.27% or 7.80 points to close at 350.80, while Kongsberg Gruppen ASA (OL:KOG) ended the session 1.33% higher, a 3.90 point gain, to trade at 296.20.
Not all names shared in the positive tone. Telenor ASA (OL:TEL) was the weakest performer on the day, slipping 2.68% or 4.00 points to end at 145.50. Nordic Semiconductor ASA (OL:NOD) fell 2.52%, a 4.80 point loss, to close at 185.90, and Hoegh Autoliners ASA (OL:HAUTO) dropped 1.69% or 2.60 points to finish at 151.30.
Market breadth was tilted to the downside despite the headline index gain: decliners outnumbered advancers by 157 to 102, with 22 stocks unchanged.
Commodities saw notable strength during the session. Crude oil for July delivery rose 2.41% - an increase of $1.83 - to settle at $77.88 a barrel. Brent oil for August delivery increased 2.11% or $1.67 to $80.63 a barrel. Precious metals also moved higher as the August Gold Futures contract climbed 0.31%, gaining $13.30 to trade at $4,367.70 a troy ounce.
Foreign-exchange moves showed both the euro and the US dollar firming against the Norwegian krone. EUR/NOK rose 0.27% to 11.02, while USD/NOK was up 0.42% at 9.51. The US Dollar Index Futures was higher by 0.19%, trading at 99.47.
The trading day left a mixed picture for investors: small headline gains in the index, concentrated sector leadership and a larger number of individual stocks in retreat. Energy and precious-metals prices strengthened, and currency moves were notable for exporters and importers operating in Norway.
Market snapshot
- Oslo OBX: +0.06%
- Top gainers: NEL (+2.53%), SUBC (+2.27%), KOG (+1.33%)
- Top losers: TEL (-2.68%), NOD (-2.52%), HAUTO (-1.69%)
- Decliners vs advancers: 157 vs 102, 22 unchanged
- Commodities: Brent +2.11% to $80.63; WTI July +2.41% to $77.88; Gold August +0.31% to $4,367.70/oz
- FX: EUR/NOK 11.02 (+0.27%); USD/NOK 9.51 (+0.42%); US Dollar Index Futures 99.47 (+0.19%)