After a rather lackluster start, the mood on the Oslo Stock Exchange picked up slightly.
The main index is writing in 621.79, corresponding to an increase of 0.12 percent.
Shares and equity certificates are traded for 1.948 million.
The main index is thus up 7.5 per cent last month, and 13.7 per cent last year.
The development occurs in aftermath of the stock market decline in Tokyo but continued upswing in China.
Leading European exchanges diverge too little.
British FTSE 100 rising 0.3 percent, while French CAC 40 falls 0 4 percent.
German DAX is down 0.6 percent after confidence index ZEW not step as much as expected in February.
Greece calls failed
Otherwise eurozone declined the Greek government after closing Monday a proposal to request a six-month extension of their international rescue package. They believe that this is “unacceptable.”
– The talks failed raises tail risk something that no agreement will be reached before month-end to avoid a messy conclusion, says chief analyst Chris Scicluna at Daiwa Capital Markets Europe Reuters .
– But we should still expect that a compromise will be found before the end of February in order to preserve stability and to keep Greece in the eurozone, he continued.
DNB Markets also writes Tuesday that Greece is not on the edge of the cliff just yet.
– For though the current crisis package, which the Greek authorities do not want to extend, expires in February, Greece funds to cover expenses for a little while. There seems to be a consensus that the funds will last until June, when a loan of 3.5 billion euros matures, it says.
Oil Lift on Iraq quarrel
Fear of supply from the Middle East provides support to oil prices. In Iraq threatens the regional Kurdish government (KRG) to hold back oil exports if Baghdad did not send their part of the Iraqi budget.
– Oil prices finds further support in the new, stronger impression of supply risk. In the short term, suggests momentum of prices will climb further, says analyst Carsten Fritsch in Commerzbank said.
Brent oil rises 0.9 percent to $ 61.93 a barrel, while the US WTI oil up 0.7 percent to $ 53.17 a barrel.
For comparison, a barrel of North Sea oil traded for $ 61.57 a barrel at the end of trading Monday. Year lowest quotation was set on January 13, when Brent oil was traded for $ 46.59 a barrel.
On the Oslo Stock Exchange rises Statoil 0.2 percent to 148 million, while DNO falling 0.5 percent to 16.10 million.
Subsea 7, Seadrill jumps
Otherwise oil climbs the Norwegian 3.3 percent to 41.64 kroner. Handelsbanken reiterates its buy recommendation, but is cautious about its price target of 50 million because of funding problems.
Several oil stocks excellent ones, with Subsea 7 and Seadrill spearheaded. The two advances respectively. 5.4 percent to 82.45 kroner and 3.6 percent to 97.35 dollars.
We note further that Norwegian eases 3.8 percent to 237.30 million, while REC Silicon exceeds 2, 9 percent to 2.37 million.
Opera Software is up 1.2 percent to 63.10 kroner after several insiders have purchased shares.
On the negative side effects modest . Hydro and Telenor pulls down around one percent.
Fredriksen sends Entra down
winners topped by Siem Shipping, rising 27.3 percent to 70 million.
Closest follows Questerre and Standard Drilling, up respectively. 14 percent to 2.60 million and 12.2 percent to 1.29 million.
DOF put on 5.6 percent to 11.40 kroner after the sale of five vessels in Brazil and release of half billion.
At the other end we find Apptix, which pulls down 8.0 percent to 1.49 million.
Kongsberg Automotive punished with a price drop of 4.7 percent to 5 , 91 million after a disappointing quarterly report after closing yesterday.
Cxense fall 7.1 percent to 111 million, while Agasti goes back 5.8 percent to 98 cents.
Entra figures also on the list of losers, and fall 1.8 percent to 81.50 kroner after John Fredriksen has sold down.
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