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Norway Leads Nordic Short Covering

Short sellers have started to show the first signs of sustained short covering in Norwegian equities in the last few weeks.

Short selling oil services firms was arguably among the best performing trades of 2014. Companies which had benefitted from energy sector expansion came under pressure as the price of oil headed to multi year lows. This development saw Norwegian equities, which are disproportionately tied to both primary energy producers and services firms, come under increasing scrutiny from short…