Oslo Stock Exchange fell in the opening Wednesday and continued for less through the day.
The main index ended at 619.96, down 0.46 percent, and it was traded shares for 2.323 million.
– most of the indicators we follow pointing down Wednesday morning, thus it becomes evidently a weak start to the Oslo stock Exchange. There are no other major news impacting the market, therefore, we exclude no indexes to climb up again within the day is over. The point is that the underlying mood in the stock markets is good (the US stock exchanges are all-time high, the Oslo Stock Exchange approaching new all-time high and oil prices are on the rise) , wrote chief analyst Roger Berntsen in today’s morning report Netfonds.
in Europe, markets also red as a result of volatile oil prices.
DAX in Frankfurt falls 0.44 percent, the FTSE 100 in London was down 0.03 percent, while CAC 40 in Paris falling 0.40 percent.
Crude
Brent oil is Wednesday afternoon up 0.62 percent at $ 45.26 a barrel, while WTI oil rises 0.56 percent to $ 43.01 a barrel. Prices fell until ten o’clock, but has since strengthened a lot.
In comparison, a barrel of North Sea oil traded at $ 45.47 a barrel at the close of trading in Oslo on Tuesday.
Part of the reason to fall from yesterday is that oil stocks in the United States according to API grew by 2.09 million barrels last week. The figures were far weaker than analysts had expected.
– surplus in the oil market will prevent oil prices from displaying any strong recovery. The trend is in the right direction, but there are still more than 500 million barrels in stock. Before we see supply return to historical averages, significant price increases be stopped, says resource analyst at Fat Prophets in Sydney, David Lennox, to Bloomberg News, according to TDN Finans.
Statoil fell Wednesday 2.34 percent to 133.60 million. The shares as of today quoted ex dividend on $ 0.2201, as well as exclusive rights to participate in the dividend issue (dividend share program) for Q1, 2016.
Billion Acquisition
Yara has signed an agreement to acquire a urea plant with associated distribution business in Babrala, Uttar Pradesh Tata Chemicals Ltd.
the price tag is $ 400 million, equivalent to approximately 3.35 billion respectively.
the stock was one of very few heavyweights that rose on Wednesday and the stock ended up 0.53 percent to 283.80 kroner.
Buying company
Subsea 7 buys swagelining Limited, which is the leading supplier of polymer lining technology.
the stock fell 1.25 percent Wednesday to 91 million.
PGS and TGS were down respectively 1.76 and 0.68 percent, Frontline fell 3.73 percent, while Seadrill ended down 5.16 percent.
A sturdy lift
the sale of the Swedish portfolio gave Vardia a solid profit in Q2.
the insurance company reported Wednesday morning for a net profit of 155.2 million kroner in Q2 compared with minus 54.99 million in the same quarter last year.
the news sent today share the entire 22.41 percent to 0.71 million, as the clear winner share.
Challenges in sun
Sunpower Corporation, an integrated solar company, believes the fundamentals remain strong, but sees challenges for the industry in the short term, the company reported in its second quarter presentation, according to TDN Finans.
the company shows including the extension of tax benefits, which are beneficial to the industry in the long term, have reduced the need to complete solar projects by the end of 2016.
REC fell Wednesday 7.30 percent to 1, 56 million.
News from Norwegian Forest
Henrik August Christensen was elected new Chairman of Norwegian Forest at the extraordinary General Meeting on Wednesday.
Meanwhile, the auditing and consulting firm BDO elected as new auditor of Norwegian Forest.
Christensen was on July 28, nominated as new chairman of the indebted paper manufacturer. He currently serves as Chairman of Home Invest, Vålerenga, Pipeliner and Fearnley Advisors.
The current chairman Jon-Aksel Torgersen announced earlier this summer that he did not seek re-election.
According to DN means the election of BDO new auditor that Norwegian Forestry avoid enforced liquidation.
the share rose to end 1.12 percent to 3.62 million.
Records price target
Danske Bank increases Reuters price target of Opera Software to 70 million, with a buy recommendation.
the share rose today 2.90 percent to 53.25 crowns.
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