Norway's Stock Market Declines as Oslo OBX Falls 1.46%

Oslo, Norway - March 28, 2025 — The Oslo Stock Exchange experienced a notable decline at the end of trading on Friday, with the Oslo OBX index dropping by 1.46%. This downturn was primarily influenced by significant losses within the OSE Media, OSE Transportation, and OSE Diversified Financials sectors.

As the market closed in Oslo, the OBX index reflected a challenging trading environment, influenced by broad selling pressure across various sectors. Among the biggest losers was Mowi ASA, which decreased by 5.71%, translating to a loss of 11.70 points, closing at 193.10. SalMar ASA followed closely behind, dropping 5.54% or 29.00 points to finish at 494.00. Norwegian Air Shuttle ASA also saw a decline, dropping 4.07% or 0.51 points to settle at 11.91. In contrast to the overall market trend, a few companies managed to record gains. Golden Ocean Group Ltd emerged as the biggest gainer, increasing by 2.32% or 1.98 points to a closing price of 87.48. Telenor ASA's shares rose by 0.67% or 1.00 points, reaching 150.40, marking a three-year high for the telecom giant. Additionally, Storebrand ASA saw a modest increase of 0.37% or 0.50 points, closing at 134.80. The market breadth indicated a strong negative sentiment, with declining stocks outnumbering advancing ones by 176 to 100, while 22 stocks remained unchanged on the exchange. Notably, SalMar ASA's share price hit its lowest point in 52 weeks as selling pressure intensified.

In the commodities market, crude oil prices also reflected a downward trend. Crude oil for May delivery fell by 1.00% or $0.70 to $69.22 per barrel. Likewise, Brent oil for June delivery decreased by $0.73, also down 1.00% to $72.61 per barrel. In contrast, June gold futures managed to gain 0.87%, up $26.91 to trade at $3,117.81 per troy ounce.

Foreign exchange markets saw the Euro increasing slightly against the Norwegian Krone, with EUR/NOK rising by 0.10% to 11.33. Conversely, USD/NOK fell by 0.13%, resulting in a value of 10.46. The US Dollar Index Futures was down 0.28% at 103.70. As investors continue to digest market conditions, the performance of the Oslo Stock Exchange remains closely monitored, particularly amid external economic pressures and sector-specific challenges.