Story
Oslo OBX Slips 1.13% as Telenor Plunge Weighs on Norwegian Stocks
Norwegian equities finished lower on Thursday, with the benchmark Oslo OBX index falling 1.13% by the close of trade. The decline was driven by broad-based weakness across several key sectors, according to market data.
Sector Weakness and Key Movers
Losses were most pronounced in the Media, Transport, and Diversified Financials sectors, which led the broader market downward. Market breadth on the Oslo Stock Exchange was negative, with 164 stocks declining compared to 88 advancers, while 27 stocks ended the session unchanged.
The session's worst performer on the OBX index was Telenor ASA (OL:TEL), which plunged 11.64% to close at 128.30, a new 52-week low. Other significant decliners included aluminum producer Norsk Hydro ASA (OL:NHY), down 2.79%, and Nordic Semiconductor ASA (OL:NOD), which fell 2.75%.
On the positive side, seafood company Mowi ASA (OL:MOWI) was a top gainer, rising 2.01%. It was followed by tanker operator Frontline Ltd (OL:FRO), which added 0.96%, and insurance firm Gjensidige Forsikring ASA (OL:GJFG), up 0.80%.
AdCommodities and Currency Markets
In the commodities market, oil prices saw a slight pullback. Brent crude for September delivery edged down 0.16% to $84.81 a barrel, while West Texas Intermediate crude for August delivery slipped 0.09% to $79.53 a barrel. Gold futures for August delivery fell more sharply, declining 1.34%.
In currency trading, the Norwegian krone weakened against major currencies. The EUR/NOK pair rose 0.07% to 11.06, and the USD/NOK pair climbed 0.27% to 9.67, reflecting a stronger U.S. dollar, as the US Dollar Index Futures gained 0.25%.
Read next
More on Stocks
FTC Orders Walmart, Uber, Delta to Disclose Data on Personalized Pricing
The U.S. Federal Trade Commission is demanding nine major companies, including leading retail, travel, and gig economy firms, to provide information on how they use consumer data for setting individual prices and wages.
Google Launches Gemini 4 Carbon AI Model to Bolster Cybersecurity Capabilities
Alphabet's Google has unveiled Gemini 4 Carbon, its latest AI model specifically designed for advanced cybersecurity tasks like vulnerability detection and secure code generation. The launch escalates competition with rivals OpenAI and Anthropic in the enterprise AI market.
Oracle Shares Surge After Unveiling $225 Billion Revenue Target for 2030
Oracle stock rose sharply after the company presented a long-term financial outlook targeting at least $225 billion in annual revenue by fiscal 2030, driven by its expanding AI infrastructure business.
DOJ Scrutinizes Nvidia's $12.9B Hugging Face Deal Amid Broader Antitrust Probe, Sources Say
The U.S. Department of Justice is reportedly examining Nvidia's planned $12.93 billion acquisition of AI platform Hugging Face as part of a wider, ongoing antitrust investigation into the chipmaker's market conduct.