Summary: Norwegian shares finished higher on Friday, with the Oslo OBX advancing 3.16% to register a new record closing level. Sector gains were concentrated in Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities, and market breadth favored risers over decliners.
Stocks in Oslo closed the trading day up on Friday, as benchmark moves were led by several health-related and utility names. The Oslo OBX index rose 3.16% to a fresh all-time closing high.
On the Oslo OBX, the session's biggest gainer was Kongsberg Gruppen ASA (OL:KOG), which climbed 15.57% - a rise of 50.05 points - to finish at 371.50. Telenor ASA (OL:TEL) also contributed to the advance, adding 7.16% or 11.60 points to close at 173.50. Nordic Semiconductor ASA (OL:NOD) rose 3.74%, gaining 5.60 points to end the session at 155.20.
Not all large-cap names moved higher. Mowi ASA (OL:MOWI) was unchanged at 228.40, recording a 0.00% change at the close. Tomra Systems ASA (OL:TOM) likewise finished unchanged at 126.10. Cmb.Tech NV (OL:CMBT) posted a modest increase of 0.50%, up 0.60 points to 120.00.
Market breadth was positive: 172 issues rose while 84 declined and 27 finished flat on the Oslo Stock Exchange.
Notably, shares of Telenor ASA reached five-year highs in the session, with the stock climbing 7.16% or 11.60 points to close at 173.50.
Commodities and currencies
Commodity markets were also firmer. Crude oil for March delivery rose 1.11%, up $0.70 to $63.99 a barrel. Brent oil for April delivery gained 1.15%, adding $0.78 to settle at $68.33 a barrel. Precious metals tracked higher as well: the April Gold Futures contract increased 1.59%, up $77.91 to trade at $4,967.41 a troy ounce.
FX moves showed the Norwegian krone strengthening: EUR/NOK declined 0.93% to 11.44, while USD/NOK fell 1.30% to 9.68. The US Dollar Index Futures was down 0.24%, at 97.47.
Implications for sectors
- Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities led the market advance, supporting the OBX's new record close.
- Telecoms saw notable strength, exemplified by Telenor reaching five-year highs.
- Energy and commodities markets were firmer, as reflected in higher crude and Brent prices, while gold futures rose.
Data snapshot
- Oslo OBX: +3.16% (new all-time high)
- Kongsberg Gruppen ASA (OL:KOG): +15.57% to 371.50
- Telenor ASA (OL:TEL): +7.16% to 173.50 (five-year high)
- Nordic Semiconductor ASA (OL:NOD): +3.74% to 155.20
- Mowi ASA (OL:MOWI): unchanged at 228.40
- Tomra Systems ASA (OL:TOM): unchanged at 126.10
- Cmb.Tech NV (OL:CMBT): +0.50% to 120.00
- Rising vs declining issues: 172 vs 84; unchanged: 27
- Crude (March): $63.99/bbl, +1.11%
- Brent (April): $68.33/bbl, +1.15%
- Gold (April futures): $4,967.41/troy oz, +1.59%
- EUR/NOK: 11.44, -0.93%; USD/NOK: 9.68, -1.30%
- US Dollar Index Futures: 97.47, -0.24%