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Norway's oil fund lost EUR 17.7bn in H1

Norway’s sovereign wealth fund, the world’s biggest, lost EUR 17.7bn in the first half of the year as a rebound in stock markets wasn’t enough to erase its record decline earlier this year.

Deputy Chief Executive Officer Trond Grande | Photo: PR / NBIM

Norway’s sovereign wealth fund, the world’s biggest, lost (EUR 17.7bn) in the first half of the year as a rebound in stock markets wasn’t enough to erase its record decline earlier this year.

The Oslo-based fund declined 3.4 percent, or NOK 188bn (EUR 17.7bn) over the period, it said on Tuesday. The investor is due to provide further details at a press conference at 10 a.m. local time.

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