The main index on Oslo Børs opened straight down on Wednesday, following a sour mood in the global stock markets.
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On Wednesday, the arrows point markedly downwards on Oslo Børs. The main index falls from the start, and is down 1.09 per cent just after 10 o’clock
This is how it looks for the most traded at 10.09:
Equinor rises falls 0.63 per centDNB is down 1.87 per centFrontline falls 2.27 per centNorsk Hydro is down 2.11 per centYara falls 1.48 per cent
The price of oil, which has risen a lot in the last month, is trading at 85.7 dollars a barrel at opening hours. In comparison, a barrel of Brent oil traded for 84.54 dollars at closing time on the Oslo Stock Exchange on Tuesday.
Crude oil inventories in the United States fell significantly by 15.4 million barrels last week, according to a survey by the American Petroleum Institute (API) on Tuesday. If the figure is confirmed by the official figures from the US Department of Energy’s statistics wing, EIA, on Wednesday afternoon, it will be the largest volume decline in US crude oil inventories since 1982, according to Bloomberg.
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Holberg manager recommends four shares
Cuts the US credit rating
Credit rating agency Fitch downgrades the US credit rating one notch from triple A to double A plus, according to a message Tuesday. AAA is the strongest credit rating, while AA+ is a notch weaker.
Fitch points to worse financial conditions and governance.
In May, the US teetered on the brink of debt default as politicians squabbled over the debt ceiling. In June, Washington narrowly avoided default after an agreement was reached to lift the debt ceiling shortly before the deadline.
Late in May, Fitch warned of a possible downgrade, and the credit rating agency then pointed to increased political division as an obstacle to reaching a solution, writes Financial Times.
Marked stock market fall in Asia
There is a sour mood in the Asian stock market on Wednesday morning:
Nikkei 225 in Tokyo down 2 percentHang Seng in Hong Kong down 2 percentKospi in Seoul down 1.4 percentShanghai Composite down 0.8 percentFTSE Straits Times in Singapore down 0.9 percentASX 200 in Sydney down 0.9 percent
On Wall Street, the futures contracts indicate that there will be a decline when ordinary share trading opens later on Wednesday. The decline comes after the downgrading of the US’s credit rating.
2023-08-02 07:00:08
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