Market information Monday April 25th 2016

OPEC is unable to carry out the functions of a regulator because of the failed negotiations last week between the OPEC countries. According to Vagit Alexperov, the president of Lukoil, the OPEC needs to be reformed due to internal political differences. Since last year the OPEC countries produce more oil than agreed resulting in decreasing oil prices.

The British research firm, Markit, published that the industrial activity of the United States increased slower in April than expected. The indicator for the Unites States decreased this month from 51.5 to 50.8, where previously analysts expected an increase to 52.0. A value above 50 indicates growth in the industry, a lower value indicates contraction.

Rating agency Standard & Poor’s (S&P) decided to retain Norway’s AAA-rating status despite the challenges for the Norwegian economy caused by decreasing oil prices. Norway remains at the top rating because of the strong economy, financial position and the stable political climate. According to S&P, these components ensure that the Norwegian economy is able to overcome negative impact of the decreased oil prices.

The 6M Euribor remained unchanged at -0.14%. The 10Y Swap increased with 1 basispoint at 0.62%.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: