Oslo Stock Exchange experienced a marked fall Friday. The main index ended at 612.66, representing a decrease of 1.34 percent.
– The market is very tentative, the focus is on oil prices and liquidity relatively thin. Company with thin balance sheets hit hard on weak days, says chief analyst Frederik Lunde Carnegie TDN Finans.
The main index is down 4.2 percent over the past month and 6.4 percent year to date.
Revenue totaled 3.6 billion.
The development occurred in the wake of a mixed day in the US Thursday and equivalent in Asia earlier today.
Heavy within oil and oil
The price of Brent crude falling 0.1 percent $ 49.56 a barrel in today’s trading, while the American WTI oil was up 1.0 percent to $ 42.64 a barrel.
IEA wrote in his August report released earlier this week that the world awash with oil and put it as that “oil stocks bulge in a breakneck pace.”
Growth in oil supply exceeded actual consumption with less than three million barrels per day in Q2, mostly since 1998.
The price of oil is likely his seventh straight week of decline, and Statoil burdened by returning 3.2 percent (4 , 40 million) to 132.10 kroner. Note that the stock today went ex dividend NOK 1.80.
In addition, Goliath, where the oil giant has 35 percent, appeared to be further delayed.
New Seadrill-breaker
Seadrill Varl among oil service stocks that excelled negative. Share price fell 3.4 percent to 66.30 kroner. Course level approaching the lowest since 2009.
John Fredriksen’s rig business has plummeted 23.3 percent so far this year and over 70 per cent last year.
Shares TGS, PGS and Subsea fell three to four percent.
Recommended sales of Prosafe
Prosafe rose from the start of one billion contract but ended down 2.9 percent. Prosafe reported a three-year contract with Petrobras for “Safe Eurus”
Analyst Janne Kvernland in Nordea Markets repeats according to TDN Finans its sell recommendation in an update after release.
Dolphin- ras
SEB according to TDN Finans downgraded Dolphin Group share of purchases to hold. Course objective is cut from 2.70 to one penny. The reason for the cuts is lower than expected order backlog and capacity utilization.
Dolphin plunged 22.5 percent to 62 cents. There are actually over 50 percent up to the target price.
Sunnmøre struggling
Aalesund-based Hexagon Composites continued downturn after a weak quarterly report Thursday. Friday plunged the stock 9.6 percent to 160 kroner. The stock is down nearly 30 percent so far in 2015.
Spetalen company fell after placement
NEL, with Øystein Stray Spetalen ownership, tumbled 8.0 percent to 2.18 million for acquisitions and completed share issue.
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