Norwegian stocks finished the Monday session weaker, with the benchmark Oslo OBX ending the day down 0.24% in Oslo after pressure from the Media, Transport and Diversified Financials sectors pushed the market lower.
Among components on the Oslo OBX, the strongest movers were in the financial and insurance space. Storebrand ASA (OL:STB) led gains, rising 1.90% - a 3.20-point increase - to close at 171.70. DnB ASA (OL:DNB) advanced 1.52%, up 4.20 points to finish at 280.90, while Gjensidige Forsikring ASA (OL:GJFG) gained 1.31%, adding 3.60 points to reach 277.40 by the close.
On the downside, several names posted notable losses. Tomra Systems ASA (OL:TOM) fell 2.03%, a decline of 2.60 points to end the session at 125.50. SalMar ASA (OL:SALM) dropped 1.92%, down 11.00 points to 562.00, and Aker BP ASA (OL:AKRBP) slipped 1.78%, losing 5.00 points to close at 276.40.
Market breadth favored sellers: falling issues outnumbered advancers by 156 to 105, with 16 stocks unchanged at the close.
Commodities and currencies moved notably alongside the equity session. Crude oil for March delivery declined 4.89%, a $3.19 drop, to settle at $62.02 a barrel. Brent crude for April delivery fell 4.66%, down $3.23 to $66.09 a barrel. Precious metals also eased, with the April Gold Futures contract down 2.18%, a decrease of $103.55, to trade at $4,641.55 a troy ounce.
Currency markets reflected a weaker krone versus major currencies. The euro strengthened versus the Norwegian krone, with EUR/NOK up 0.59% to 11.46. The U.S. dollar also gained on the krone, as USD/NOK rose 1.06% to 9.71. The U.S. Dollar Index Futures increased 0.68% to 97.52.
The session combined sectoral pressure on the Oslo benchmark with broad moves in oil, gold and foreign-exchange markets, leaving the OBX modestly lower at the close.