The best stocks to invest in on the Norway Stock Exchange
Investing in stocks can be very profitable, and it is not too difficult to get started. There are loads of different ways to support, and we will provide some advice on how you can get started and which company you should buy the stocks of on the Norway Stock Exchange if you want to try your luck with investing.
Before we start, here are a few things that you should be aware of:
- Always remember that stock prices can go down and up (in fact, they often go down for quite a while before going back up). If you feel unsure of what this means or don’t understand why it matters, read about volatility’s role in trading.
The companies mentioned below have been picked out as examples of good companies to invest in.
If you have no money to invest, then there are a couple of different things that you can do:
- Set up an automatic saving system where a little bit gets saved every month and invested into stocks.
- Put your money into a savings account with a high-interest rate so that it will grow over time.
- Keep the money under your pillow, because then at least if the stock prices go down, you still have all the physical cash (or whatever other way of storing value you like)
A few tips for how to get started:
- Setting up a brokerage account in Norway
- Make sure that you understand the rules regarding which stocks you are allowed to invest in on the Oslo Stock Exchange Note.
- Set yourself a goal for when and how much money you want to invest.
Note: This helps give some direction so that you do not just throw all your money into different companies without any specific strategy.
Companies on the Oslo Stock Exchange
Statoil ASA has been around since 1972 but was established as an individual limited company only in January 1990. The headquarters of this petroleum company is located right next to Rygge airport outside Moss, Norway.
They are one of the largest energy groups in Europe, and their revenue amounted to 668 billion NOKin 2011. They currently have a market cap of over 500 billion NOK, and their stock is the most expensive on the Oslo Stock Exchange (based on price per share).
They are one of Norway’s most prominent companies in the oil industry, and they produce not only petroleum but also natural gas, wind power and alternative energy sources.
The main reason I include Statoil ASA in my list of good stocks to buy is that I feel like the company has a lot going for it, even though they have had some problems with spills.
Sparebanken Vest is a bank based in Rogaland, Norway. They have 52 branch offices, and five business centres all over Norway and about 300 of their employees work with IT development. In 2012 they had net income equal to ~3 billion NOK or 330 million USD.
The turnover of this financial institution was 16,8 billion NOK in 2013, which is 1,6 billion more than in 2012.
Today Sparebanken Vest has a market cap of almost 30 billion NOK (around three times as much as Statoil ASA), and their stock is also one of the most expensive on the stock exchange
Aker Solutions ASA
Aker Solutions is part of the Aker Group and has been since 2006 when it was separated from its parent company Kværner ASA, the largest privately owned business group in Norway.
Aker Solutions is involved in several large-scale projects, most notably the upgrading of facilities for Oseberg, Gullfaks, Statfjord and Snorre oil platforms, as well as Kværner’s work on the Johan Sverdrup field development project.
Aker Solutions has a market cap of NOK 68 billion (approx. €6.5 billion) and utilises about 10 000 people across its operations worldwide.
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Honorable mention: Kværner ASA
Kværner is part of the same group as Aker Solutions and was founded by industrialist Eivind Harboe Kværner (hence the name) in 1867.
While Aker Solutions has been separated from Kværner and is on its own since 2006, Aker Group still owns 51% of the company – but this share will be reduced to 33% if and when Kværner completes their pending IPO.
Kværner ASA has a market cap of NOK 49 billion (approx. €4.8 billion) and utilises about 4 800 people across their operations worldwide.