Norway's stock market finished slightly higher on Tuesday, with the Oslo OBX gaining 0.22% at the close after a session led by strength in the Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities sectors.
On the index, shipping firm Frontline Ltd (OL:FRO) was the day's strongest performer, climbing 4.97% - equal to a 16.20-point rise - to finish at 342.10. Cmb.Tech NV (OL:CMBT) also posted notable gains, adding 3.74% or 5.00 points to end at 138.60, while seafood producer SalMar ASA (OL:SALM) rose 3.33% or 19.00 points to close at 590.00.
Not all names participated in the advance. Storebrand ASA (OL:STB) was the session's weakest member on the Oslo OBX, slipping 2.74% or 5.00 points to 177.60. DnB ASA (OL:DNB) fell 1.64% or 5.00 points to finish at 299.00, and Norwegian Air Shuttle ASA (OL:NAS) declined 1.40% or 0.24 points to 16.85.
Market breadth on the Oslo Stock Exchange was tilted toward falling shares, with 137 decliners versus 123 advancers and 23 stocks unchanged.
Frontline's share price moved to a five-year high during the session, recording the 4.97% gain to reach 342.10. Cmb.Tech's advance took its shares to a 52-week high, with the 3.74% rise leaving the stock at 138.60.
Commodities and currency markets registered several declines. Crude oil for April delivery slipped 0.75% or 0.50 to $65.81 a barrel, while Brent for May delivery fell 0.55% or 0.39 to $70.72 a barrel. Precious metals were lower as well, with the April Gold Futures contract down 1.17% or 60.99 to trade at 5,164.61 a troy ounce.
Currency pairs involving the Norwegian krone moved modestly: EUR/NOK rose 0.15% to 11.27 and USD/NOK increased 0.23% to 9.57. The US Dollar Index Futures was up 0.18% at 97.81.
Session highlights:
- Oslo OBX closed up 0.22%.
- Top gainers included Frontline Ltd, Cmb.Tech NV and SalMar ASA.
- Leading decliners were Storebrand ASA, DnB ASA and Norwegian Air Shuttle ASA.
- Market breadth favored falling stocks, 137 to 123, with 23 unchanged.
- Crude and Brent oil prices fell, and gold futures declined sharply.