Nordnet's Roger Berntsen believes Oslo Borse will open 0.1 percent lower, or within the range. [-0,5, 0,3] percent.
The analyst notes in his morning report that Monday was another quiet day on Wall Street, so there is little momentum to be gained from there today.
“The Nasdaq also did best with a 0.3 percent increase, while the Dow Jones Industrial Average fell 0.2 percent last night. Investors around the world are now awaiting new inflation numbers from the US, including today's Producer Price Index number and the CPI tomorrow.
Berntsen also points out that Asian bourses more or less mirrored US bourses last night.
“Moreover, most of the world’s stock market indices are trading near all-time highs, a sign of general optimism among investors despite significant geopolitical uncertainty, ‘high’ interest rates and low economic growth,” the analyst writes.
Asia
There are small results on Asian bourses on Tuesday morning.
In Japan, the Nikkei rose marginally by 0.05 percent, while the broader Topix index fell by 0.07 percent.
China's Shanghai Composite Index fell 0.12 percent, Hong Kong's Hang Seng Index fell 0.13 percent, while South Korea's Kospi fell 0.01 percent.
In India, the Nifty 50 index rose 0.09 per cent. Figures presented late Monday showed that inflation in the country rose 4.83 percent over the year in April, slightly above expectations of 4.8 percent.
Oil price
The July contract for Brent oil rose on Tuesday morning by 0.14 percent to $83.49 per barrel, while West Texas Intermediate crude rose by 0.15 percent to $79.24 per barrel.
In comparison, a barrel of North Sea oil was trading at $83.74 per barrel at the close of the Oslo Stock Exchange on Monday.
Wall Street
Wall Street finished mixed on the first trading day of the week. The S&P 500 closed down 0.02 percent, while industrial heavyweight Dow Jones fell 0.2 percent. The Nasdaq technology index rose nearly 0.3 percent.
Most of us remember the Gamestop short squeeze in 2021, when gamblers on the Reddit forum r/WallStreetBets banded together to drive up Gamestop's stock price, ruling out a sell in the stock. The result was that the stock price rose by more than 1,700 percent within one month, after the campaign became widespread.
Now the stock is making new moves after Keith Gill, the man who began short testing GameStop in 2021, published his first post in nearly three years. It's uncertain what the post means, but Gamestop shares rose more than 74 percent on Wall Street on Monday to $30.47.
Read the full US update here.
Oslo Stock Exchange
After hitting an all-time high on Friday, stocks fell on Monday. The main index stood at 1,416.45 points at the close of the stock exchange, down by 0.16 percent.
Mary Roscrow has resigned as Chairman of ArcticZymes with immediate effect. In addition, Jane Theker has resigned from the Board of Directors, for personal reasons. The stock fell 5.9 percent on Monday.
Photocure shares rose 4.7% to NOK 60.50. The National Medical Products Administration has accepted the drug application submitted by Photocure partner Asieris Pharmaceuticals to consider Cevira for potential marketing approval in China, the company announced on Sunday.
Read the full stock exchange update here.
This is what's happening today:
Score for each first quarter:
Icelandic Salmon: 06:30, webcast at 11am
Salmar: 06.30, Continental Hotel at 8am, webcast
M Vest Water: 07.00, webcast at 1pm
Norconsult: 07.00, House of Oslo at 09.00, webcast
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