OBX index

OBX index
base data
Country	Norway
Stock exchange	Oslo Stock Exchange
ISIN	NO0000000021
WKN	171747
symbol	OBX
RIC	^ OBX
Bloomberg code	OBX <INDEX>
category	Stock index
Type	Performance index
family	OBX indices

The OBX Index (Oslo Børs Index) is the main share index on the Oslo Stock Exchange in Norway . The 25 most important companies in the country in terms of market liquidity are listed in the financial index.

calculation

Technically speaking, the OBX index is a performance index . It consists of the 25 most traded stocks on the Oslo Stock Exchange , with the stock exchange turnover of the past six months being decisive. Only the freely tradable securities of the stock corporations are taken into account in the weighting . For the OBX Index, it is assumed that all cash dividends and other income from the ownership of the shares, such as proceeds from subscription rights and other small caps, will be reinvested in shares of the index.

The dividends distributed are added to the weighted market value of the index: If a distribution is made to the investors, the share price is usually reduced by the amount of the dividend. The payments are added back to the course immediately. The calculation is updated every second during trading hours from 9:00 a.m. to 5:30 p.m. CET . The composition of the index is revised twice a year, in June and December.

history

20th century

OBX Index 1996-2012

The OBX Index has been calculated as a price index since January 1, 1987. The index basis was initially at 200 points. With effect from April 21, 2006, the Oslo Stock Exchange put the calculation on a new basis. At the request of numerous market participants, it has since determined the score of the OBX Index as a performance index. At the same time there was an index split at a ratio of 4 to 1. The base value from 1987 has been 50 points since then. On April 20, 2006, a final score of 1,382.33 points was calculated for the OBX. The opening price after the split on April 21, 2006 was 345.58 points.

On December 29, 1989, the Norwegian benchmark index closed arithmetically at 102.24 points for the first time above the limit of 100 points. On August 2, 1990, the index ended trading at 129.84 points. During the recession in the early 1990s, the OBX index fell to a closing level of 78.33 points by January 15, 1991. Since August 1990 this corresponds to a loss of 39.7 percent. After rising to 104.82 points on August 26, 1991, the share index fell 49.2 percent in the following 12 months. On August 25, 1992, the OBX Index finished trading at 53.25 points.

On April 24, 1998, the stock market barometer closed at 192.20 points. The profit since August 1992 is 261.0 percent. In 1997 and 1998 parts of the world suffered financial , currency and economic crises ( Asian crisis , Russian crisis , Brazilian crisis ). The crises made investors in Norway nervous and there was an increased outflow of capital. On October 8, 1998, the OBX index ended trading at 98.64 points. The loss since July 1998 is 48.7 percent.

In the next three years, the stock index achieved numerous records. On July 24, 2000, he ended trading above the 200 point limit for the first time. On September 14, 2000, the OBX Index closed at a record level of 223.96 points. The profit since October 1998 is 127.0 percent.

21st century

After the speculative bubble burst in the technology sector ( dot-com bubble ), the index fell to a low of 94.32 points by February 25, 2003. That was a decrease of 57.9 percent since September 2000. February 25, 2003 means the end of the downward trend. From spring 2003 the OBX index began to rise again. On January 30, 2006, the index closed at 302.25 points for the first time above the limit of 300 points and on April 26, 2007 at 400.79 points for the first time above the 400-point mark. On May 22, 2008, the Norwegian benchmark index marked an all-time high with a closing level of 462.70 points. The increase since February 2003 is 390.6 percent.

In the course of the international financial crisis , which had its origin in the US real estate crisis in the summer of 2007, the OBX index began to decline again. On October 16, 2008, it closed with 197.02 points below the 200-point mark. The share index hit a new low on November 21, 2008, when it ended trading at 162.92 points. Since the all-time high of May 22, 2008, this corresponds to a decline of 64.8 percent. It is the biggest fall in the history of the OBX Index.

November 21, 2008 marks the turning point of the downward trend. From autumn 2008 the index was on the way up again. By April 6, 2011, it rose by 157.1 percent to a closing level of 418.90 points. The weakening of the global economy and the worsening of the euro crisis led to a slump in the index. On October 4, 2011, the OBX index ended trading at 301.03 points. The loss since April 6, 2011 is 28.1 percent.

The announcement of new bond purchase programs by the European Central Bank and the US Federal Reserve , which are basically unlimited, led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in the price formation than the global economic slowdown and the state of the companies. On September 14, 2012, the index closed at 430.38 points, 43.0 percent higher than on October 4, 2011.

Highs

The overview shows the all-time highs of the OBX index.

	Points	date
on a closing price basis	882.06	1st September 2018

Milestones

The table shows the milestones of the OBX index.

First close over	Final score in points	date
50	50.00	January 1, 1987
100	102.24	December 29, 1989
150	150.20	February 17, 1997
200	200.16	July 24, 2000
250	250.67	July 8, 2005
300	302.25	January 30, 2006
350	351.60	April 24, 2006
400	400.79	April 26, 2007
450	454.07	May 19, 2008

Annual development

The table shows the annual development of the OBX Index since 1986.

year	Final score in points	Change in points	Change in%
1986	50.00
1987	45.48	−4.52	−9.04
1988	67.24	21.76	47.85
1989	102.24	35.00	52.05
1990	87.73	−14.51	−14.19
1991	80.15	−7.58	−8.64
1992	66.13	−14.02	−17.49
1993	96.38	30.25	45.74
1994	100.84	4.46	4.63
1995	101.77	0.93	0.92
1996	133.15	31.38	30.83
1997	169.09	35.94	26.99
1998	125.45	−43.64	−25.81
1999	178.48	53.03	42.27
2000	195.92	17.44	9.77
2001	162.58	−33.34	−17.02
2002	110.85	−51.73	−31.82
2003	156.49	45.64	41.17
2004	205.40	48.91	31.25
2005	278.21	72.81	35.45
2006	371.37	93.16	33.49
2007	422.08	50.71	13.65
2008	199.13	−222.95	−52.82
2009	339.32	140.19	70.40
2010	400.40	61.08	18.00
2011	357.60	−42.80	−10.69
2012	410.30	52.70	14.74
2013	602.80	112.28	22.89
2014	619.74	16.94	2.81
2015	648.96	29.22	4.71
2016	764.66	115.70	17.83
2017	906.98	142.32	18.61
2018	902.30	−4.68	−0.52

composition

The OBX index consists of the following companies (as of March 2, 2019):

Companies	logo	Branch	Index weighting in%
Aker		Holdings
Aker BP		oil and gas
Aker Solutions		Maritime technology
Bakkafrost		food
BW offshore		oil and gas
DNB		Banks
DNO		oil and gas
Equinor		oil and gas
Gjensidige Forsikring		Insurance
Golden Ocean Group		Shipping company
Grieg Seafood		food
Lerøy Seafood Group		food
Mowi		food
Nel		Plant construction
Norsk Hydro		aluminum
Norwegian Air Shuttle		Airlines
Orkla		food
Petroleum Geo-Services		Geophysical services
SalMar		food
Schibsted		media
Store brand		Insurance
Subsea 7		Drilling technology
Telenor		telecommunications
TGS-NOPEC Geophysical Systems		Geophysical services
Yara International		fertilizer