Norwegian shares finished the trading session on Wednesday with an upward bias as sector-level strength pushed the Oslo OBX to a new record. The benchmark index ended the day up 0.63%.
Sectors that led the advance included Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities, which collectively supported the broader market's positive close.
On the Oslo OBX, the session's top performer was Norwegian Air Shuttle ASA (OL:NAS), which climbed 3.06% - a gain of 0.49 points - to finish at 16.51. Subsea 7 SA (OL:SUBC) also posted a solid increase, adding 2.37% or 5.60 points to close at 242.00, while Hoegh Autoliners ASA (OL:HAUTO) rose 2.05% or 2.10 points to end at 104.60.
Not all large-cap names moved higher. Among the weakest on the OBX, DnB ASA (OL:DNB) fell 1.41% or 4.00 points to close at 278.90. Storebrand ASA (OL:STB) slipped 0.94% or 1.60 points to end the session at 168.90, and Kongsberg Gruppen ASA (OL:KOG) declined 0.80% or 2.60 points to finish at 321.00.
Market breadth was mixed: decliners outnumbered advancers on the Oslo Stock Exchange by 133 to 110, and 35 stocks ended the session unchanged. Within that context, Subsea 7 SA recorded a milestone by rising to an all-time high, gaining 2.37% or 5.60 to reach 242.00.
Commodity markets showed modest gains during the session. Crude oil for March delivery rose 0.90% or 0.56 to $62.95 a barrel. Brent crude for April delivery increased 0.66% or 0.44 to $67.03 a barrel. Precious metals moved notably higher in futures trading: the April Gold Futures contract climbed 3.66% or 187.56 to trade at $5,308.16 a troy ounce.
Currency moves were relatively small but directional. The euro fell 0.06% against the Norwegian krone to 11.50 EUR/NOK, while the U.S. dollar strengthened 0.65% versus the krone to 9.63 USD/NOK. The U.S. Dollar Index Futures was up 0.21% at 96.25.
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Summary: The Oslo market closed higher with the OBX at a record high, led by gains in healthcare-related sectors and utilities. Select large-cap names rallied while several other notable stocks fell, and commodity and currency moves were modestly supportive of the session's tone.