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NORW vs. ETF Alternatives
The Global X FTSE Norway 30 ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE Norway 30 Index.
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Tuesday, Sep 104:04 AM
Tuesday, Sep 104:04 AM| 2 Comments
- 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
Wednesday, Aug 292012, 8:11 AMA bit of excitement comes out of Norway where the Norges Bank holds its benchmark rate at 1.5%. The move was supposedly expected, but the euro promptly plunges against the krone, suggesting someone believed the bank was going to cut. The euro also gives up a few pips vs. the greenback, -0.2% to $1.2540. |Wednesday, Aug 292012, 8:11 AM| Comment!
Thursday, Aug 162012, 11:40 AMA panel of Norwegian oil and gas experts says the costs of offshore drilling are too high and calls for easing safety rules to save up to 1T kroner ($167.5B) and allow greater volumes of oil and gas to be produced. Without action, there's a "grave danger" that vast resources may remain in the ground forever. Norway's petroleum production fell 4% in 2010 and 5% in 2011. |Thursday, Aug 162012, 11:40 AM| 8 Comments
Wednesday, Jun 202012, 8:43 AM
Thursday, May 102012, 8:29 AMNorges Bank leaves policy unchanged, its benchmark lending rate staying at 1.50% following December's 75 basis point cut. "Activity in the Norwegian economy is slightly higher than expected, but tensions in international financial markets have flared up again,” says Deputy Governor Jan F. Qvigstad. NORW +6.1% YTD. |Thursday, May 102012, 8:29 AM| Comment!
Wednesday, Mar 142012, 9:40 AMThe krone plunges against the euro after Norway's central bank unleashes a surprise by cutting its benchmark rate 25 bps to 1.50%. "The continuing downturn abroad and the strong krone are contributing to keeping inflation low and weighing on growth in Norway," says Norges Bank Governor Olsen. NORW +16.6% YTD. |Wednesday, Mar 142012, 9:40 AM| Comment!
Wednesday, Dec 142011, 8:05 AMNorway's central bank cuts it benchmark rate 50 bps to 1.75%, more than the expected 25 point cut. "The turbulence in financial markets has intensified and external growth is now expected to be clearly weaker, particularly in the euro area," says Deputy Governor Jan Qvigstad. |Wednesday, Dec 142011, 8:05 AM| 3 Comments
Wednesday, Dec 142011, 2:50 AMNorway's central bank may cut its benchmark rate today to 2% from 2.25%, the first rate cut since 2009, as deepening eurozone gloom threatens the country's exports and pushes up bank borrowing costs. A full 60% of Norway's factory goods go to other European nations, and the region's crisis is already dragging down Norway's manufacturing output, consumer confidence and mainland economy growth. |Wednesday, Dec 142011, 2:50 AM| Comment!
Monday, Nov 282011, 11:36 AMKokusai Asset Management, Japan's largest mutual fund company, says it has unloaded all of its Italian, Spanish, and Belgian bond holdings, lowering the level of euro-denominated paper in its flagship fund to 15.9% from more than 30% two months ago. Hopefully not auguring the next trouble spots, the fund is redirecting assets to the debt of Canada, Australia, Sweden, and Norway. |Monday, Nov 282011, 11:36 AM| 1 Comment
Friday, Sep 232011, 8:21 AM
Thursday, Sep 82011, 8:02 AMIt took about 48 hours for Norway to say "not so fast" to investors rushing into the krone, following the earthquake out of Switzerland. "Monetary policy measures will be taken," says central bank governor Oystein Olsen. The krone has shot to an eight-year high vs. the euro this week. |Thursday, Sep 82011, 8:02 AM| Comment!
Tuesday, Sep 62011, 8:33 AM
Thursday, May 122011, 9:04 AM
Thursday, Mar 32011, 8:22 AMOil companies take the collar in Norway in 2011 as all wells drilled come up empty of either crude or gas. A string of dry wells last year prompted Norway to cut its estimated gas reserves by 31%. Energy production makes up 25% of Norway's economy. NORW +12.3% since inception. STO +12.0% YTD. |Thursday, Mar 32011, 8:22 AM| Comment!
Wednesday, Dec 12010, 5:03 PM
Tuesday, Nov 92010, 3:47 PMTomorrow Global X will launch the first ever Norway ETF (NORW). The fund will join the Global X FTSE Nordic 30 ETF (GXF) as the only other ETF offering U.S. investors Scandinavia exposure. NORW is heavily tilted towards the energy (41.5%) and financial (18%) sectors. It will sport an expense ratio of 0.50%. |Tuesday, Nov 92010, 3:47 PM| Comment!
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