Oslo Stock Exchange close to the top
The main index passed 200 points Monday, while a year ago the index was under 100. Oslo Bourse needs only an appreciation of another 10.9 percent before it passes its best ever recorded result just over 225 points.
In other words, Oslo Bourse is considerable closer to reach its all time high than the other leading indexes in other western countries, according to the Norwegian financial paper Finansavisen. For an example, Stockholm and Frankfurt must double in order to reach their best record result, while the London Stock Exchange have 50 percent left in order to reach the top.
The S&P 500 index on Wall Street also has a long way back to the all time high of 1527 points. The index is currently at about 1150. NASDAQ has even further to go and it needs an increase of 150 percent in order to pass the best recorded result from March 2000.
Ivar Strompdal, chief strategist at ABG Sundal Collier, said to the Finansavisen that good earnings and a high oil price can be used to explain much of the steep upswing at the Oslo Bourse. There are still many companies which are struggling with earnings in Europe.
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