Norway's leading stock index, the Oslo OBX, closed lower on Tuesday, slipping 1.41% as losses in the Media, Transport and Diversified Financials sectors put downward pressure on the market.
Ending the session at a decline of 1.41%, the Oslo OBX saw more sellers than buyers, with 189 issues falling, 72 rising and 21 unchanged on the Oslo Stock Exchange.
Top performers
Aker BP ASA (OL:AKRBP) was the strongest gainer on the OBX, up 3.95% or 11.70 points to close at 307.90. The stock moved to a 52-week high during the session. Var Energi ASA (OL:VAR) also advanced, adding 3.16% or 1.19 points to finish at 38.82 and likewise reached a 52-week high. Hafnia Ltd (OL:HAFNI) rose 2.85% or 2.10 points to end the day at 75.80, marking a 52-week high as well.
Largest decliners
Subsea 7 SA (OL:SUBC) registered the steepest drop among OBX components, sliding 7.45% or 19.80 points to close at 246.00. Norwegian Air Shuttle ASA (OL:NAS) fell 4.15% or 0.66 points to 15.15, while Storebrand ASA (OL:STB) declined 4.03% or 7.20 points to finish at 171.30.
Commodities and currencies
Energy markets showed strong gains on the day. Crude oil for April delivery rose 7.76% or 5.53 to $76.76 a barrel. Brent oil for May delivery increased 7.28% or 5.66 to $83.40 a barrel. In precious metals, the April Gold Futures contract fell 4.11% or 218.34 to trade at 5,093.26 a troy ounce.
Currency moves included EUR/NOK rising 0.88% to 11.27 and USD/NOK climbing 1.83% to 9.74. The US Dollar Index Futures was up 0.98% at 99.31.
Market breadth and closing note
Market breadth favored decliners, with nearly three times as many falling stocks as advancing ones on the Oslo exchange. While several energy-related names reached year highs, notable weakness in transport and financial names helped drive the overall retreat in the benchmark.
The session closed with the Oslo OBX down 1.41% and mixed signals from commodities and currency markets that accompanied the equity moves.