More share experts believe the Oslo Stock Exchange will rise significantly from current record levels. Swedbank analysis team believes it can rise up to 45 percent on a year term, writes Dagens Næringsliv.
The main index on the Oslo Stock Exchange ended Friday up 1.75 percent to 656.31, which is superb new record. Chief strategist in Swedbank, Peter Hermanrud think it may rise towards 900-950 points.
– Norwegian shares are medium high priced and it is more likely that they will be higher than lower priced in the next round, he says the newspaper.
Hermanrud believes there are three reasons for further gains – the overall growth in the world economy picks up, record low interest rates, and oil prices.
– Oil prices continued to come back year, but not quite back to where we were, say Hermanrud who think it is more than 50 percent likely that several of the major oil producing countries agree on a production cut that can stabilize oil prices, says chief strategist.
– Then we can quickly get the oil price back $ 80 or more. And we know that the Oslo Stock Exchange yesterday. We have lost a 25-30 percent against other exchanges since oil prices began to fall, the question is how much of it we can take again, he points out.
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