Norwegian shares finished the trading day in negative territory on Tuesday, with the Oslo OBX retreating 0.32% at the close. Selling pressure was concentrated in the Media, Transport and Diversified Financials sectors, which contributed to the overall downward move.
Among components of the Oslo OBX, Hafnia Ltd (OL:HAFNI) was the top performer for the session, rising 2.47% to finish at 80.85. Frontline Ltd (OL:FRO) gained 1.80% to close at 418.90, marking a move to a five-year high intraday, and Equinor ASA (OL:EQNR) advanced 1.50% to end at 405.40.
On the downside, Nordic Semiconductor ASA (OL:NOD) posted the largest percentage drop among OBX names, sliding 3.61% to 160.10 at the close. Subsea 7 SA (OL:SUBC) declined 2.26% to 337.00, while Yara International ASA (OL:YAR) fell 2.21% to finish the session at 445.90.
Market breadth on the Oslo Stock Exchange skewed negative: 170 stocks closed lower versus 88 that advanced, and 21 were unchanged. The stronger number of decliners reflects the influence of the lagging sectors referenced above.
Commodity markets showed notable moves during the session. October delivery crude oil rose 2.27% to $87.71 a barrel. Brent futures for December delivery climbed 4.35% to $92.21 a barrel. By contrast, the December Gold Futures contract moved lower by 1.64%, trading at $4,407.95 a troy ounce.
Foreign exchange rates registered small moves against the Norwegian krone. EUR/NOK traded down 0.39% to 10.81, while USD/NOK fell 0.23% to 9.32. Separately, the US Dollar Index Futures was quoted up 0.17% at 99.55.
Session highlights
- OBX index closed down 0.32%.
- Hafnia, Frontline and Equinor were the best-performing OBX stocks.
- Nordic Semiconductor, Subsea 7 and Yara were the weakest performers.
- Decliners outnumbered advancers by 170 to 88 on the Oslo exchange.
- Crude and Brent oil rose, while gold futures declined; EUR/NOK and USD/NOK moved lower.