Norwegian equities closed lower on Tuesday, with the Oslo OBX finishing the day down 0.40% as broader weakness in the Media, Transport and Diversified Financials sectors weighed on the market.
At the close in Oslo, the index recorded a modest retreat. Leading gains on the Oslo OBX were Kongsberg Gruppen ASA (OL:KOG), which climbed 1.47% - a rise of 5.45 points to finish at 376.35. Orkla ASA (OL:ORK) added 0.85%, or 1.10 points, ending the session at 129.80, while DnB ASA (OL:DNB) rose 0.81%, or 2.40 points, to close at 298.90.
On the downside, Tomra Systems ASA (OL:TOM) was the heaviest decliner on the index, falling 3.26% - a loss of 4.00 points - to end at 118.80. Norsk Hydro ASA (OL:NHY) slipped 2.87%, or 2.42 points, to close at 82.02, and Nordic Semiconductor ASA (OL:NOD) dropped 2.77%, or 3.90 points, to finish at 137.10.
Market breadth favored decliners on the Oslo exchange: 146 stocks fell versus 116 that advanced; 19 issues were unchanged at the close.
Two of the day's risers reached new record levels. Shares of Orkla ASA rose to an all-time high, closing up 0.85% at 129.80, and DnB ASA likewise rose to a record closing level, gaining 0.81% to 298.90.
Commodities traded lower in the session. Crude oil for April delivery declined 1.29%, or 0.81, to trade at $61.94 a barrel. Brent oil for April delivery dropped 2.42%, or 1.66, to $66.99 a barrel. April Gold Futures fell 2.95%, or 148.86, to trade at $4,897.44 a troy ounce.
Currency moves showed the Norwegian krone weakening in cross rates reported at the close. EUR/NOK rose 0.74% to 11.33, while USD/NOK increased 1.18% to 9.59. The US Dollar Index Futures was higher by 0.62%, trading at 97.42.
This session's price action illustrated a narrow mix of strength and weakness among large-cap names: several blue-chip stocks registered gains, including two that set new highs, while industrials and technology-related names registered the steepest declines. Commodity and FX moves provided additional context for the day's market performance.