The week starts with a marked decline on the Oslo Stock Exchange. At this writing is the main index of 628.50, down 1.26 percent.
Oil prices fall 1.73 percent to $ 63.52, which contributes greatly to that Statoil is down 1.40 percent.
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In an interview with TDN Finans tells equity strategist Kristian Tunaal DNB Markets that the general rise in interest rates we’ve seen lately should receive more attention in the stock markets than Greece-uncertainty.
– I would say that the interest rate increase is considerably more important. Greece’s only around two percent of the Eurozone economy, so whatever happens, it will not affect the euro zone or the global economy to any significant extent. However, it is clear that Greece situation means that the markets are more hesitant than they otherwise would have been, say Tunaal to TDN Finans.
Strategen recalls that it is a long time since there has been a correction in on the exchange.
– It would not be unnatural to believe that it is time for it now soon. A drop of five to ten percent is a relatively common occurrence in the stock market and we have not had such a correction since last fall, says Tunaal.
Although the Oslo Stock Exchange has fallen 4.47 per cent last month The benchmark index has put on 9.11 percent so far this year.
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