Norway's equity market finished the trading day in negative territory on Thursday, with the Oslo OBX closing down 0.43%. Losses concentrated in the Media, Transport and Diversified Financials sectors were cited as headwinds to the overall index.
Among the best-performing constituents on the Oslo OBX were shipping-related names. Hoegh Autoliners ASA (OL:HAUTO) led gains, rising 5.01% - equal to a 6.30-point increase - to finish at 132.00. Hafnia Ltd (OL:HAFNI) advanced 2.89% or 2.00 points to close at 71.14, while Frontline Ltd (OL:FRO) added 2.31% - a 7.90-point move - to end the session at 349.90.
At the other end of the board, several industrial and services stocks recorded notable declines. Norsk Hydro ASA (OL:NHY) slipped 3.34% or 3.00 points to close at 86.72. TGS NOPEC Geophysical Company ASA (OL:TGS) was down 2.51% - a 2.90-point drop - to 112.50, and Cmb.Tech NV (OL:CMBT) fell 2.49% or 3.40 points to trade at 133.20 at the close.
Market breadth on the Oslo Stock Exchange was tilted toward losers, with 142 stocks falling compared with 124 advancers; 18 issues finished unchanged.
Several stocks reached multi-period highs during the session. Shares of Hoegh Autoliners ASA rose to 52-week highs after the 5.01% gain, and Hafnia Ltd also climbed to 52-week highs following its 2.89% advance. Frontline Ltd reached 5-year highs as it gained 2.31% in late trade.
Commodities and currencies showed modest moves alongside the equity session. Crude oil for April delivery increased 1.50% or 0.98 to trade at $66.40 a barrel. Brent oil for May delivery rose 1.92% or 1.36, settling at $72.05 a barrel. In contrast, the April Gold Futures contract declined 0.35% or 18.21 to trade at $5,207.99 a troy ounce.
In foreign exchange, the euro strengthened against the Norwegian krone with EUR/NOK up 0.21% at 11.27, while USD/NOK rose 0.31% to 9.56. The US Dollar Index Futures registered a 0.09% increase to 97.71.
The session closed with mixed signals across sectors: shipping and transport names outperformed on the day, while materials, geophysical services and diversified financials weighed on the index. Overall, the market finished modestly lower with a larger number of declining issues than advancing ones.