Securities registered with the Norwegian Central Securities Depository, Q3 2010

In the first two quarters of this year, foreign investors were net sellers of shares. In total, foreign investors` net sales amounted to NOK 22 billion in the first half of the year. This development changed in the third quarter where foreign investors net purchased shares for NOK 13.8 billion. A large share of the net purchases were purchases in share issues.

The Oslo Stock Exchange All-share index (OSEAX) rose by nearly 12 per cent in the third quarter. Share values in the VPS-registered companies were at the end of the quarter divided into NOK 1 420 billion of quoted shares and NOK 396 billion of unquoted shares.

Foreign investors purchase shares in private enterprises

Of the foreign investors`total net purchases of shares, which amounted to NOK 13.8 billion, NOK 9 billion were purchased in private enterprises and about NOK 1 billion were purchased in state owned enterprises. NOK 3 billion were placed in shares issued by foreign companies registered with the VPS. Net purchases of shares by foreign investors, as well as a positive development in the markets contributed to this sectors` owner share to increase from 31 per cent to 32.5 per cent. Foreign investors were at the end of the quarter the largest owner sector in the Norwegian stock market.

Central government purchases shares

The Central government was the second highest net purchaser of shares in the third quarter of 2010. Like foreign investors, this sector purchased mainly in private enterprises. NOK 4.7 billion were placed in shares issued by private enterprises, whereas this sector net sold shares in both foreign enterprises and in state owned enterprises.

Financial auxiliaries and banks sell shares

While it was the foreign investors and the Central government that stood for the net purchases of shares during the third quarter, it was the financial auxiliaries and banks that made the sales. The financial auxiliaries net sales of shares amounted to NOK 3.7 billion, of which the largest share of the sales were made in private enterprises and foreign enterprises. Banks net sold shares of NOK 1.3 billion in the third quarter.

Increased stocks of bonds

Stocks of debt securities registered with the Norwegian Central Securities Depository increased in the third quarter of 2010. The stock of bonds increased by nearly 2 per cent, to NOK 1 259 billion, and the stocks of short-term debt securities were reduced by about NOK 4 billion to NOK 345 billion¹.

The government measures, established in October 2008, to improve the liquidity in Norwegian banks mean that the banks can exchange their covered bonds with government securities. The sharp growth in the stocks of debt securities throughout 2009 was mainly caused by the increase in issuing activity due to government measures established in October 2008 to improve the liquidity in Norwegian banks. In the VPS statistics, these covered bonds are registered as owned by the government in the exchange period. In the bank accounts, these covered bonds are entered as assets and as government loans on the liability side.

Tables

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