Oslo Stock Exchange fell broadly on Thursday. The main index ended 0.92 percent to 649.28 ..
The turnover ended at relatively modest 3.4 billion.
Analysis Manager in Netfonds, Roger Berntsen, skrrv in its morning report that the impulses from the US and Asia are weak, and that investors are now unsure whether Greece fail to reach an agreement with the troika (ECB, European Commission and IMF) about the impending loan decay.
Investors are hesitant before Greece-clarification . Moreover, they are excited about Friday’s key US employment report and the OPEC meeting on the same day.
Oil prices fall back
It has been a somewhat volatile day in the oil market, where the price of Brent crude has fluctuated from 62.43 to 64.08 US dollars a barrel. At 16: 30 o’clock, July contract for $ 62.48 a barrel, down 2.1 percent.
The US WTI oil was down 2.1 percent to $ 58.40 a barrel.
In comparison, a barrel of North Sea oil traded at $ 64.93 a barrel at the close of trading Wednesday. This year’s lowest share price was set on January 13, when the Brent oil was traded at $ 46.59 a barrel.
Statoil fell 2.0 percent to 143.70 kroner. Number two on the sales chart, Norwegian Hydro, fell 1.6 percent.
Biotech-stock plunged
Wednesday evening it was announced that PCI Biotech has decided to stop work Enhance its study. That sent the stock down as much as 28.6 percent to 7.50 million.
The decision comes after a strategic review, the company now wishes instead to focus their resources on the clinical trial for cancer of bile ducts.
The share is thus down 42 percent so far this year and 76 percent over the last year.
Norwegian carries more
English meldete Thursday morning that they transported 2,376,151 passengers in May this year, representing an increase of 13 percent compared with the same period last year.
The sharp increase must be seen in the context of weak traffic figures in May last year when Parat took Cabin Attendants strike. Now, however, customers come back, even after pilot strike earlier this year which had a strong negative effect on bookings.
DNB Markets and Pareto Securities are positive traffic figures. According to TDN Finans, they conjure up that revenue per available seat kilometer (fast) was up 15 percent on an annual basis in May.
Pareto Securities has a buy recommendation on Norwegian with target 450 million, while DNB Markets maintains its buy recommendation with price target 400 respectively.
Handelsbanken Capital Markets believes the numbers were strong compared with last year, according to TDN Finans. Referring inter alia to the yield increase breaks the trend of decline on an annual basis so far in 2015.
The stock climbed 2.3 percent to 325.30 kroner. We remind all time high of 335 million.
Noreco production fell
Norwegian Energy Company (Noreco) announced Thursday that they produced in May 5046 boe per day , down from an output of 5.310 barrels per day in April.
The company achieved a price of 56 dollars per barrel, after adjustments for oil put options, inventory, NGL and gas prices.
The stock fell 5.9 percent to 35.40 dollars.
News from Songa
Also Songa Offshore has issued a May update. The company reports that in the period achieved an uptime of 100 percent for both Songa Delta, Songa Trym and Songa Dee.
All the vessels worked in period for Statoil in Norway.
The stock fell 1 , 3 percent to 1.50 million.
EMGS
Electromagnetic Geoservices announced that they are now resuming work for Pemex in Mexico.
The stock opened up but ended down 1.5 percent to 1.94 million.
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