Norwegian stocks ended the trading day in negative territory on Tuesday, with sector-level weakness in Media, Transport and Diversified Financials weighing on the market. At the close in Oslo, the Oslo OBX declined 0.06%.
Among individual movers on the Oslo OBX, Hoegh Autoliners ASA (OL:HAUTO) was the session's strongest performer, rising 3.39% or 4.90 points to finish at 149.40. Insurance group Gjensidige Forsikring ASA (OL:GJFG) added 2.76% or 6.80 points to close at 252.80, while fertilizer producer Yara International ASA (OL:YAR) gained 2.09% or 9.70 points to end the day at 473.90.
On the downside, Nel ASA (OL:NEL) recorded the largest drop among the names listed, slipping 3.73% or 0.11 points to 2.84 at the close. Energy company Equinor ASA (OL:EQNR) declined 2.70% or 9.60 points to finish at 346.20, and Nordic Semiconductor ASA (OL:NOD) was down 2.17% or 4.20 points to 189.20.
Market breadth favored decliners: falling stocks on the Oslo Stock Exchange outnumbered advancing issues by 146 to 110, while 27 stocks ended the session unchanged.
Commodity markets saw notable declines during the session. Crude oil for July delivery fell 3.86% or 3.52 to trade at $87.78 a barrel. Brent oil for August delivery eased 3.23% or 3.04 to $91.21 a barrel. Precious metals were lower as well, with the August Gold Futures contract down 0.98% or 42.55 to $4,320.85 a troy ounce.
Currency moves accompanied the market and commodity shifts. The euro strengthened against the Norwegian krone, with EUR/NOK up 0.56% to 10.98. USD/NOK rose 0.30% to 9.50. The US Dollar Index Futures fell 0.22% to 99.80.
The session’s price action left Norway’s benchmark marginally lower overall, with sector pressures and commodity softness remaining the dominant themes at the close.