Economy

The stock exchange starts the new year with a fall

The main index on the Oslo Stock Exchange was around 1 per cent after one hour of trading on the first trading day of the year, Wednesday.

The index fell immediately after the stock market opening at 9 o’clock on Wednesday, and after an hour’s trading was down just over 1 percent to 791.1 points. All of the 17 largest companies on the index – listed by the largest, Equinor (-1.8 percent) – were in the red Wednesday morning. Among them, Subsea 7 weakened most, by 3.3 per cent.

The North Sea oil also falls in price, and was traded for just under $ 53 a barrel on the spot market after a drop of just over 2 per cent since midnight.

The Oslo Stock Exchange thus followed the development of the Hang Seng index in Hong Kong, where a relatively sharp decline is related to disappointing Chinese industrial production figures. In Shenzhen and Shanghai, the exchanges opened with a cautious increase. The Tokyo Stock Exchange is closed Wednesday.

Leading stock exchanges in Europe also opened: In Frankfurt, the DAX 30 index fell 0.9 percent a few minutes after opening, while the FTSE 100 in London and CAC 40 in Paris were down 1.6 and 2 percent respectively.

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