The Oslo Poor’s decline continues – heading for the worst week since March

Around one o’clock, the main Oslo Poor’s index fell 0.8 percent. Thus, the stock market continues to decline for the third day in a row, and the index has fallen by 4.1 percent since Tuesday.

It is now heading for the biggest drop since March of this spring, when the Silicon Valley banking collapse caused financial turmoil.

The price of North Sea (spot burn) oil also decreased by 1.2 percent and the price per barrel is now $73.3.

• Equinor is down 0.6 percent.
• Vår Energi rose 3.6 percent.
• Aker BP fell 1.3 percent.

Have faith

Despite the decline in the stock market, Nordea investment manager Lev Ron Ren still believes that the market will continue to go up in the future.

– I think we’re in for a positive development, no matter how likely that may be. We have avoided many of the crises we saw earlier this year like the Silicon Valley bank collapse. And then we had some challenges with the debt ceiling, and we’ve been anticipating since last year that there will be a recession, Ryan says and adds:

– But we dealt with the crises that we experienced earlier this year, and we are approaching the peak of interest rates. Recently we have seen that a number of indices, for example the Bull & Bear index, have turned out to be very positive.

It also notes that the VIX, also known as the fear index, has been down so far this year. According to Ren, this is a sign that the market is less interested.

– My position is relatively optimistic, but there is some uncertainty. For example, there may be a recession, but there is currently no data to suggest that we are going to have a really hard landing. (conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We’d like you to share our statuses using links that lead directly to our pages. Reproduction or other use of all or part of the Content may be made only with written permission or as permitted by law. For more terms see here.