Norwegian equities closed slightly higher on Monday, with the Oslo OBX adding 0.09% at the end of trading. Sector strength was concentrated in Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities, which collectively helped push the index into positive territory.
Among individual movers, Norwegian Air Shuttle ASA (OL:NAS) finished as one of the session's best performers, rising 3.87% - a gain of 0.66 points - to close at 17.56. Cmb.Tech NV (OL:CMBT) climbed 3.11%, up 3.80 points to end the day at 126.00, while Hoegh Autoliners ASA (OL:HAUTO) rose 2.40%, adding 2.70 points to reach 115.30 in late trade.
On the downside, Yara International ASA (OL:YAR) led decliners, dropping 2.21% or 10.10 points to close at 446.00. Var Energi ASA (OL:VAR) was down 1.69%, losing 0.57 points to finish at 33.18, and Norsk Hydro ASA (OL:NHY) fell 1.61%, a decline of 1.38 points to 84.44.
Market breadth on the Oslo Stock Exchange favored gainers: 155 stocks rose, 105 fell and 20 ended unchanged.
Notably, shares of Cmb.Tech NV (OL:CMBT) rose to 52-week highs during the session, reflecting the stock's 3.11% advance to 126.00.
Commodities and currency backdrop
Commodity prices provided a mixed influence. Crude oil for April delivery was up 0.97%, gaining 0.61 to trade at $63.36 a barrel. Brent crude for April delivery increased 0.93%, or 0.63, to $68.38 a barrel. By contrast, the April Gold Futures contract declined 0.85%, a fall of 42.71, settling at $5,003.59 a troy ounce.
Exchange rates also moved modestly. EUR/NOK rose 0.23% to 11.27, while USD/NOK climbed 0.31% to 9.51. The US Dollar Index Futures was up 0.16% at 96.97.
What this means for markets
The session's narrow gains indicate selective strength across several defensive and healthcare-related sectors, while traditional cyclical names in fertilizers and energy faced pressure. Overall breadth showed more advancing issues than decliners, but moves were modest and concentrated in specific names.