Norway's Conservatives sweep to victory

|By:, SA News Editor

Norway's right-of-center Conservatives and its allies have won a landslide victory in the country's election, beating out the ruling Labor party.

Incoming Prime Minister Erna Solberg has promised a program of privatization, a reduction of Norway's heavy reliance on oil, and tax cuts as she looks to give the private sector more room to breathe.

The privatization could include the lowering of stakes in Statoil (STO) and telecoms group Telenor (TELNF.PK).

OMX Oslo 20 +0.3%. USD-NOK -0.2% to 5.998 krones.

ETFs: NORW, ENOR