The main index opened weakly, but fell following a few minutes of trading.
However, it seems that the market is taking the attack relatively calmly following it became clear that no major damage has been reported, says senior strategist Dane Cekov at Nordea Markets.
– No major damage has been reported and there is no damage to Iran’s nuclear power plant. An attack on Iran’s nuclear facilities had been seen as a further escalation, raising market fears of a full-scale war between Iran and Israel, he says.
– Played down
Israel has not confirmed that it is behind the attack, but several American media have spoken to anonymous American and Israeli sources who say Israel attacked Iran during the night.
– The Iranian media are allegedly playing down the significance of this attack, which gives hope that the situation will de-escalate, and that has calmed the nerves in the market a little, says Cekov.
Senior analyst Helge André Martinsen in DNB Markets also believes that the prospect of a de-escalation of the conflict calms the market.
Martinsen is supported by Sparebank 1 Markets’ chief economist Harald Magnus Andreassen.
– Now that much of the immediate reaction has been reversed, I would actually say that the market is taking this very calmly. The normal thing is that things like this can have an impact in the short term, but without further escalation it will pass very quickly, he says to Today’s business.
Oil price jump
The price of oil increased immediately following the attack and was above 90 dollars a barrel. It has since fallen gradually and one barrel of North Sea oil is traded for around 88 dollars a barrel at 9.40am. This is an increase of around 2 percent.
The most traded companies are Frontline (-2.2), Aker BP (-0.1), Norwegian Air Shuttle (-3.7), Yara (-1.6) and DNB (-0.4).
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2024-04-20 12:28:34
