Stock Markets February 23, 2026

Oslo Stocks Close Lower; OBX Drops 0.40% as Media, Transport, Financials Weigh

Norwegian benchmark slips after losses in key sectors while select energy and industrial names finish higher

By Caleb Monroe EQNR SALM
Oslo Stocks Close Lower; OBX Drops 0.40% as Media, Transport, Financials Weigh
EQNR SALM

Norway's stock market ended the session lower, with the Oslo OBX index down 0.40% as weakness in Media, Transport and Diversified Financials pressured the market. Broad market declines outpaced gains, though several energy and industrial companies recorded gains. Oil and other commodity prices moved higher, while the euro and dollar both firmed against the kroner.

Key Points

  • Oslo OBX closed down 0.40% as losses in Media, Transport and Diversified Financials weighed on the market.
  • Top gainers included Norsk Hydro (NHY), Equinor (EQNR) and Var Energi (VAR), while Mowi (MOWI), SalMar (SALM) and Nel (NEL) were the largest decliners.
  • Commodity prices rose: April crude oil at $66.94, May Brent at $71.74 and April gold futures at 5,220.64 a troy ounce; EUR/NOK and USD/NOK strengthened versus the krone.

Norway's equities finished the trading day in negative territory on Monday, with the Oslo OBX closing 0.40% lower. Selling pressure in the Media, Transport and Diversified Financials sectors contributed to the overall decline.

Among constituents of the Oslo OBX, Norsk Hydro ASA (OL:NHY) was the strongest performer, advancing 2.39% - a rise of 2.04 points - to finish at 87.40. Equinor ASA (OL:EQNR) climbed 1.39%, or 3.80 points, to close the session at 277.50. Var Energi ASA (OL:VAR) also posted gains, rising 0.93% or 0.32 points to end at 34.67.

On the downside, Mowi ASA (OL:MOWI) led losses after sliding 3.96%, a drop of 9.20 points, to settle at 223.40. SalMar ASA (OL:SALM) declined 3.79% or 22.50 points to close at 571.00. Nel ASA (OL:NEL) rounded out the larger decliners, falling 3.33% or 0.07 points to trade at 2.03 at the close.

Market breadth favored decliners, with 156 stocks falling compared with 102 advancers on the Oslo Stock Exchange; 25 issues finished unchanged.

Commodity markets saw gains during the session. Crude oil for April delivery rose 0.69%, an increase of 0.46, to $66.94 a barrel. Brent crude for May delivery added 0.62% or 0.44 to reach $71.74 a barrel. In metals, the April Gold Futures contract moved sharply higher, rising 2.75% or 139.74 to trade at 5,220.64 a troy ounce.

Currency moves showed the euro and the dollar both stronger against the Norwegian krone. EUR/NOK increased 0.71% to 11.27, while USD/NOK gained 0.47% to 9.56. The US Dollar Index Futures eased 0.16% to 97.57.


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Risks

  • Sector-specific weakness in Media, Transport and Diversified Financials may continue to exert downward pressure on the index - impacts equity sector performance.
  • Declines in major seafood producers and related names such as Mowi and SalMar highlight vulnerability in consumer-facing and export-oriented segments - impacts consumer/food sectors.
  • Movements in oil, gold and currency markets could add volatility to energy, mining and export-driven companies listed on the Oslo exchange - impacts energy and commodities-linked equities.

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