(On:) the main index on the Oslo stock Exchange followed the direction in the american and asian stock market on Tuesday, with a fall of 2.2 per cent. In the course of four weeks, the index fell 8.7 per cent, and is now located on the 863,83 points.
There is much to worry about, as the constant turmoil around the trade war between the united STATES and China, the debt and interest rates in Italy and the excitement around Saudi Arabia, ” says Kristian Tunaal, manager at Alfred Berg Asset management and former aksjestrateg in DNB Markets to Mallorca.
– at the same time, it turns out, as it did in the winter, that the credit market remains surprisingly stable. So this is a godværskorreksjon, and the rates will rise again.
Still a good atmosphere
Tunaal shows according to the newspaper companies currently have put up relatively strong numbers, especially in the united STATES.
the Market is pretty ruthless against companies that do not meet the expectations, but otherwise the results have been quite good.
Now he thinks the market moves into the best part of the year.
It usually begins in november, so I will be surprised if the benchmark index falls below 850 points, ” he says, and adds that the way forward is up.
The economic foundation is solid and the mood in the market is still good, so we think the index will rise to 1,000 points in the course of the next six to nine months.
the Rush of resultatvarsler
Hans Thrane Nielsen, manager at Storebrand Asset management reviews according to Finansavisen stock market decline as “a very normal høsturo”.
in The past month, there have been a couple of resultatvarsler every day, especially from Europe. In the first and second quarter there were almost none.
He pulls back the bad news from Michelin, Daimler-Benz and Leoni, as the indications on the brake in the automotive industry, as well as from the NCC and Skanska, who have written down large construction and civil engineering works in both Sweden and the united STATES.
– Based on what we know today, the markets are still in a normal korreksjonsfase. The fall from the top tend to be on between 9 and 10 percent, with a duration of six weeks. In some corrections have the fall, however, varied from 2 to 18 percent, so utfallsrommet is large.
Other financial news:
the Analysts recommend “buy”
– The main drivers behind lower stock prices
