Recycling led to upturn for the Oslo Beurse

Tomra RecyclingTomra Recycling Station. Photo: Tomra

Recycling gave a long awaited upturn on the Oslo Beurse

The main index on the Oslo Stock Exchange rose by 0.52 per cent and ended at 868.46 points on Monday, following a sharp upturn for the recycling company Tomra.

 

The Norwegian company excelled with tenth place on the sales list and a value increase of 11.8 per cent during Monday.

According to E24, the explanation is a EU bill, which entails that member countries must collect 90 per cent of plastic beverage bottles by 2025. According to Nettavisen, Tomra is the world’s largest recycling company for bottles and (beer) cans.

As usual the Equinor (Statoil) share topped Monday’s sales list, although the company ended marginally down by 0.1 per cent. Behind them followed Aker BP (+0.8 per cent), Marine Harvest (+1.3 per cent), DNB (-0.5 per cent) and Orkla (+2.1 per cent).

The game developing company Funcom achieved the dubious position of being “loser of the day”, down 8.7 per cent.

3 of the 5 largest up

At the end of the trading day, three of the five most traded companies ended up. The biggest increase was for Orkla, which was the fifth most traded and increased by 2.1 per cent.

Among the leading stock exchanges elsewhere in Europe there was no clear trend. The DAX 30 Index in Frankfurt ended down 0.4 per cent, FTSE 100 in London ended up 0.2 per cent, while CAC 40 in Paris ended down 0.6 per cent.

The upturn in the main index in Oslo came despite a new day with a drop in the oil price  At 5:30 pm on Monday, a barrel of North Sea oil (Brent crude) sold at $75.25 a barrel, more than four US dollars down from the top reached on Tuesday last week. Tthe price of American light crude also dropped to $66.57 a barrel.

 

© NTB Scanpix / #Norway Today

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