Oslo equities ended the session lower on Friday, with sector losses in Media, Transport and Diversified Financials weighing on the benchmark. At the close, the Oslo OBX was down 0.89%.
Market breadth on the Oslo Stock Exchange tilted toward losers: 171 stocks fell versus 90 that advanced, while 18 finished unchanged.
Top and bottom performers
The strongest performers on the Oslo OBX included Frontline Ltd (OL:FRO), which advanced 2.01% or 5.70 points to close at 289.70. Frontline's gain took the stock to a 52-week high, rising 2.01% or 5.70 to 289.70 at the close. Cmb.Tech NV (OL:CMBT) added 1.50% or 1.80 points to finish at 122.20, while TGS NOPEC Geophysical Company ASA (OL:TGS) rose 1.36% or 1.50 points to end the day at 112.20.
On the downside, Tomra Systems ASA (OL:TOM) led losses, falling 8.66% or 11.60 points to a close of 122.40. Norsk Hydro ASA (OL:NHY) declined 5.94% or 5.42 points to finish at 85.82, and Nordic Semiconductor ASA (OL:NOD) was down 4.37% or 6.50 points to 142.20.
Commodities and currencies
Movements in energy and precious metals were mixed at the close. Crude oil for March delivery dipped 0.11% or 0.07 to $62.77 per barrel. Brent oil for April delivery rose 0.13% or 0.09 to $67.61 per barrel, while the April Gold Futures contract increased 1.21% or 59.99 to trade at $5,008.39 a troy ounce.
In FX, EUR/NOK fell 0.15% to 11.28, while USD/NOK was essentially unchanged, moving 0.05% to 9.52. The US Dollar Index Futures was up 0.11% at 96.94.
Summary
- Oslo OBX closed down 0.89% as Media, Transport and Diversified Financials underperformed.
- Market breadth favored decliners 171 to 90, with 18 unchanged.
- Frontline reached a 52-week high; Tomra, Norsk Hydro and Nordic Semiconductor were notable laggards.
Key points
- Index movement - Oslo OBX down 0.89% at the close, reflecting sector-led weakness.
- Equity winners and losers - Frontline, Cmb.Tech and TGS posted gains; Tomra, Norsk Hydro and Nordic Semiconductor were the largest decliners.
- Market context - Energy and precious metals showed mixed performance while major NOK currency pairs moved modestly.
Risks and uncertainties
- Sector concentration - Continued weakness in Media, Transport and Diversified Financials could keep pressure on the OBX and related stocks.
- Breadth imbalance - A larger number of declining issues versus advancers suggests near-term downside risk in the market.
- Commodity and FX volatility - Fluctuations in oil, gold and NOK exchange rates add uncertainty for energy and export-related companies.
This report reflects closing prices and market data recorded at the Oslo market close on the day in question.