Egypt unrest sinks Oslo stock prices

Egypt unrest sinks Oslo stock prices
The Oslo Stock Exchange. File photo: Kyrre Lien/Scanpix
The weak European market and escalating tensions in Egypt were cited at the close on Wednesday as the Oslo Stock Exchange ended trading down by 1.25 percent.

The NTB news agency reported on Wednesday that the stock exchange got off to a weak start on Wednesday morning, but had dipped by the end of the day.

Several key Norwegian companies saw stock prices sink. Statoil was down by 1.34 percent, while Seadrill sunk 1.53 percent. 

Telenor saw a 0.49 dip, with DNB sinking 2.43 percent. 

The Norwegian PMI index, which gauges the attitude among buyers, showed that the mood has not been gloomier for the past four years. The last time the index hit such a low measure was June 2009.

North Sea oil, however, ended the day at a barrel price of 195.72 dollars, an increase of 1.65 percent.

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