Tuesday ended main index of 539.46, down 3.10 percent, and it was traded shares for approximately 3.97 billion.
The sharp fall came after new landslide in oil prices, and stock market is now down 11.60 percent so far this year.
Oil prices
Brent oil falls writing with 4.85 percent to $ 32.58 a barrel, while WTI oil is down 4.78 percent to $ 30.11 a barrel.
In comparison, a barrel of North Sea oil traded at $ 34.86 a barrel at the close of trading Monday.
Prices for oil contracts thereby increases the drop from Monday. Part of the reason is, according to Bloomberg News and TDN Finans expectations that the US Energy Information Agency (EIA) Wednesday will report further growth in already record high US oil inventories.
The bearings are expected to increase by 3.75 million barrels during week until January 29th.
– There is a persistent excess supply. Concrete and significant production cuts have to. Pressure rises on manufacturers, and some must turn off the tap, says analyst at Fat Prophets in Sydney, David Lennox, news agency.
The hope dwindles moreover for an agreement on production cuts between OPEC and Russia.
– It is difficult to see a successful agreement between OPEC and Russia, and people start seeing it, said senior energy analyst Andy Sommer at Axpo Trading in Swiss Dietikon said.
Statoil fell eventually the entire 5.43 percent to 108.00 kroner. DNO fell back 5.37 percent, while the Norwegian oil company ended down 5.39 percent.
Citi retains buy recommendation, but cuts price target on Statoil from 160 to 150 million, it goes according to TDN Finans forward of a sector report on Tuesday.
The cut in price target occurs after a downward revision of oil price expectations.
Analysts cut according to news agency his 2016 expectations for oil prices by 23 percent to 40 dollars a barrel.
Disappointing figures
TGS fell Tuesday 6.10 percent to 117 kroner after having submitted disappointing 4Q Tuesday morning.
The company reported a profit after tax of minus $ 121.55 million in Q4 2015 from $ 32.03 million in the same period last year. According to TDN Finans was expecting a profit of minus $ 107 million.
Revenues amounted to $ 131,740,000, compared with $ 297.81 million in Q4 2014 and expected $ 131 million.
TGS goal is to maintain the quarterly dividend of $ 0.15 per share the year, but if developments are weaker than expected, it may be modified.
We have the goal of keep the dividend stable dollar basis. This will depend on how the cash flow, market conditions and the balance evolves according to our estimates. Maybe we need to change the dividend during the year, said CFO Sven Borre Larsen in TGS during the broadcast Tuesday.
RCL-plunge on the stock exchange
In Q4 2015 received Royal Caribbean Cruise Lines (RCCL) an adjusted profit of $ 0.94 per share.
According to TDN Finans had the lead ahead guided a profit of around $ 0.92 per share.
Revenue totaled 1.90 billion dollars, against 1.82 billion a year ago. Here lay the expectations of 1.96 billion dollars.
Operating profit was $ 250 million, against $ 119 million last year.
Furthermore, the company said in today’s quarterly report that it awaits an adjusted profit at 5.90 to 6.10 dollars per share in 2016.
The stock eventually fell 13.55 percent to 619 kroner, and distinguished himself as number two among today’s biggest losers.
heavyweights
Otherwise among the most traded shares, the atmosphere largely negative, and only four of the 30 most traded shares rose. Telenor fell 3.86 percent, while DNB was down 3.94 percent. Yara went back 1.49 percent, while the Norwegian Hydro fell 2.62 percent. We take that Seadrill fell 4.03 percent to 16.69 kroner, while Subsea 7 ended down 2.87 percent to 49.73 kroner.
Storebrand was however up 0.69 percent, while Marine Harvest rose 0.34 percent.
Funding in place
Norwegian Air Shuttle announced Tuesday that through its wholly owned subsidiary Arctic Aviation Assets entered into long-term financing of six Boeing 737 800.
The financing is structured as a private placement to institutional investors in the US market.
Norwegian shares climbed 1.68 percent to 259.80 kroner.
Fresh update
Gaming Innovation increased number of registered players in January. That sent the stock up 1.66 percent to 2.45 million.
Games company reports that by the end of January 307,667 registered users on Guts.com, Rizk.com and Betspin.com.
There is an increase of 266,230 users a month earlier.
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