The Oslo Stock Exchange fell sharply on Thursday. After reviewing a list of stock exchanges in 94 countries, investment director Robert Næss of Nordea Investment Management concludes that the Oslo Stock Exchange has done second worst this year. It is down 35 percent in dollars – only beaten by the stock exchange in Brazil that is down 37 percent.
"It's really too late to escape now that it has fallen so much," Robert Næss tells Norwegian business newssite Dagens Næringsliv.
The CIO believes investors should already begin to prepare themselves for 2021.
"It is clear the world will move forward, so I think people should focus on forgetting the fundamentals of 2020 and start to look at 2021," he says and predicts earnings for 2020 will be ruined – though not for all companies.
He does, however, see bright spots. The Shanghai Stock Exchange is one of the stock exchanges that have done best this year with a decline of just a few percent. This is despite the fact that China has most cases and deaths from the coronavirus. The country has taken enormous steps to stop the virus.
This post originally appeared on AM Watch.
