Securities registered with the Norwegian Central Securities Depository, Q4 2007

A number of Norwegian real estate funds organised as share companies carried out share issues in 2007, and households were the most active buyers of these shares. From the second half of 2006 and throughout 2007, households’ net purchase of shares in real estate companies amount to NOK 10 billion, while other sectors’ net purchase of shares in these enterprises amount to nearly NOK 4 billion. At the end of 2007, households’ share values in real estate companies amounted to almost NOK 13 billion.

The households’ growing interest for investments in real estate shares can to some extent be explained by the abolition of tax benefits in private pension products in 2006. An alternative to these types of savings products has been investments in the real estate market.

Security stocks increased in the fourth quarter

Following a decrease in the third quarter of 2007, the share values registered with the Norwegian Central Securities Depository increased somewhat in the fourth quarter. Measured in market value, the stocks of shares increased by 0.6 per cent to NOK 2556.6 billion. The Oslo Stock Exchange (OSE) All-share index decreased by 0.9 per cent in the same period, but this decline was offset by a 4.5 per cent increase in the share value of unquoted shares.

In 2007, the market value of the shares registered with the Norwegian Central Securities Depository increased by 16.1 per cent. The OSE All-share index increased by 13.5 per cent in the same period. At the end of the year, the total stock of shares was divided between NOK 2126.2 billion in quoted shares and NOK 430.4 billion in unquoted shares. Foreign ownership increased by 1.5 per cent in 2007, and foreign investors now own 38.5 per cent of the share value registered in the Norwegian Central Securities Depository. Distributed dividends amounted to NOK 67.5 billion, an increase of 9 per cent compared to 2006.

Stocks of interest-bearing securities registered with the Norwegian Central Securities Depository increased in the fourth quarter of 2007. The stock of bonds increased by 2.8 per cent to NOK 788.1 billion, and the stock of short-term securities increased by 13.4 per cent to NOK 130.3 billion.

In 2007, the stock of bonds increased by 4.4 per cent and the stock of short-term securities increased by 30.7 per cent.