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The case is being updated.
The main index on the Oslo Stock Exchange fell cautiously from the start on Tuesday, and just under an hour after the start of trading, the fall intensifies. The decline is just before 10.00 at around 0.6 percent.
This is a broad fall for the majority of Børsen’s largest companies, which weigh on the development of Børsen.
- The oil companies Equinor, Aker BP and DNO all fall between 0.6 and 1.2 percent.
- The fish farming companies Salmar, Mowi and Bakkafrost all fall between 0.5 and 1.7 percent.
- The tanker company Frontline, in which billionaire John Fredriksen is the largest owner, falls over three percent. The quiz platform company Kahoot does the same.
The crypto company Harmonychain, on the other hand, is rising by around 20 per cent, albeit at a rather modest volume. The share is traded for just under one kroner. The rise comes after the company Monday night announced that it has put into operation its self-developed «scryptopool».
Rising oil prices
On Tuesday morning, the barrel price of North Sea oil burned continues to rise. At the time of writing, one barrel is trading for around 81.4 dollars, the highest since the autumn of 2018. At that time, the oil price peaked at 86 dollars a barrel.
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The rise is coming after yesterday’s meeting in Opec +, where the expanded oil cartel agreed to keep production policy unchanged. This means that it stands by the plan to increase production by 400,000 barrels per day.
American light oil, WTI crude, is at the time of writing at a barrel price of about 77.6 dollars, the highest since 2014.
Broad falls in the US and Asia
The development on the Stock Exchange is following suit a broad fall on Wall Street on Monday night Norwegian time, when, among other things, the technology-heavy Nasdaq index fell over two percent. Wall Street sales spilled over into the Asian market on Tuesday morning, with the Nikkei index on the Tokyo Stock Exchange falling more than three percent.
With this, the main index on the largest stock exchange in Asia was in a “correction” after falling by more than ten percent since mid-September.
The debt-stricken Chinese conglomerate Evergrande is still suspended on the Hong Kong Stock Exchange. The share price has fallen by more than 85 percent in the last year.
According to an updated stock exchange announcement, a major transaction will be carried out. According to several media in Hong Kong and China, there is talk that the Chinese real estate company Hopson will take over 51 percent of the shares in a subsidiary of Evergrande.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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