Summary: Norway's equity benchmark eased at the close on Friday as declines across Media, Transport and Diversified Financials held back the market. The Oslo OBX ended the day down 0.14%, with a larger tally of falling issues than advancing ones. Commodity markets saw notable gains, with both crude benchmarks and gold moving higher.
At the Oslo Stock Exchange close, the Oslo OBX registered a decline of 0.14%.
The top performers on the Oslo OBX were energy and resource-linked names. Var Energi ASA (VAR) led gains, rising 2.65% or 1.26 points to finish at 48.83. Aker BP ASA (AKRBP) was up 1.96% or 6.80 points to 354.60, while Norsk Hydro ASA (NHY) added 1.67% or 1.52 points to close at 92.62.
On the downside, Nordic Semiconductor ASA (NOD) suffered the largest decline among OBX components, falling 3.30% or 5.00 points to end at 146.30. Kongsberg Gruppen ASA (KOG) dropped 2.56% or 10.00 points to 380.00, and Tomra Systems ASA (TOM) slipped 2.21% or 2.50 points to close at 110.50.
Market breadth was negative at the close: 153 stocks fell, 112 advanced and 19 finished unchanged on the Oslo exchange.
Commodities posted strong moves during the session. Crude oil for May delivery rose 3.74% or 3.53 to $98.01 a barrel. Brent oil for June delivery climbed 2.46% or 2.51 to $104.40 a barrel. Precious metals also advanced, with the June Gold Futures contract up 3.29% or 144.95 to trade at $4,553.95 a troy ounce.
Currency markets showed modest NOK weakness versus major peers. EUR/NOK was up 0.46% at 11.21, while USD/NOK rose 0.52% to 9.73. The US Dollar Index Futures finished the session up 0.19% at 99.90.
Overall, the trading day closed with a small decline for the OBX and stronger moves in commodities, while the number of declining shares outpaced advancers.
Key points
- Oslo OBX closed down 0.14% following losses in Media, Transport and Diversified Financials sectors.
- Var Energi, Aker BP and Norsk Hydro were among the session's gainers; Nordic Semiconductor, Kongsberg and Tomra were among the largest decliners.
- Crude oil (WTI and Brent) and June gold futures all posted notable increases during the session.
Risks and uncertainties
- Commodity price volatility - oil and gold moved higher, which could influence commodity-sensitive sectors.
- Currency fluctuations - EUR/NOK and USD/NOK rose, introducing exchange-rate considerations for exporters and importers.
- Market breadth skewed negative - more stocks fell than rose, indicating uneven sector performance.