The main index of the Oslo Stock Exchange ended at 602.84 Wednesday, representing a decrease of 1.07 percent.
Shares and equity certificates are traded 3,702 million.
The main index is thus down 1.2 percent last month, but up 9.8 percent so far this year.
Wall Street falls markedly in the early trade, after several disappointing macroeconomic data from the United States. Particularly disappointing was the American Purchasing Managers Index for the service sector (non-manufacturing ISM).
PMI for industry disappointed too, as did building investments. Employment in the private sector came in above expectations.
Meanwhile react investors in New York on the first Ebola diagnosis on a patient in the United States.
Toenangivende European bourses also see red.
The German DAX and UK FTSE 100 falls both around one percent, while the French CAC 40 pulls down 1.3 percent.
Europe down, oil prices up
Afternoon disappointment comes on top of the purchasing manager index (PMI) from both China and Europe (Germany and France). According to Reuters emphasizes the latter two the fragile recovery in the European economy.
– The political turmoil in Hong Kong draws the sentiment in the market, while the Japanese Tankan survey and the Chinese PMI data was not convincing, Printer Rabobank analysts, according to news agency in a note.
Result Notifications from British J Sainsbury and French Nexans burdened also Europe’s stock exchanges.
also expect investors at tomorrow’s policy meeting at the ECB.
– It is obvious that the European Central Bank initiates the printing press either at this meeting or any.’s next, at least we think it wrote Netfonds in today’s morning report.
About China’s PMI Not convinced, came in better than expected, and this gives some support to oil prices Wednesday.
November Brent oil was way down at levels around $ 94.40 per barrel last night, but Wednesday afternoon up in $ 95.34, up 0.7 percent in today’s trading.
The Oslo Stock Exchange fell 0.9 percent to Statoil 173.70 million, while Iraq exposed DNO ended down 1.9 percent to 19, 72 million.
Bloody for oil mosquito
A third oil company Noreco, stole most of today’s headlines.
Noreco plunged 76.3 percent to 1.97 million after having informed the market about an unexpected shutdown of the Huntington field in October 2014.
The company has also received new information indicates the need for impairment of Oselvar and Huntington reserves.
– The development of Huntington will affect the cash balance in 2015 and in subsequent years, and the unforeseen closure makes it uncertain whether the company able to fulfill its financial obligations towards the end of 2014, it was said.
Meanwhile resigns Chairman Morten Garman and director Erik Henriksen with immediate effect.
– We have no immediate liquidity crisis in Noreco and are of the firm belief that it is beneficial for anyone who has an interest in the company that Noreco continue as a company. If it were to stop completely, the values deteriorate quite quickly, says Noreco’s CEO Svein Arild Killingland TDN Finans.
– We therefore consider all realistic options, and we will not rule out any options at this time, nor new equity, says Noreco chief on.
At the lowest share was as low as 1.91 million, which is obvious new all-time low.
Eight to the bottom, two top
Noreco was one of eight shares set a record low in Wednesday’s trading. The other seven were Northland Resources, Eitzen Chemical, Polarcus, Odfjell Drilling, EMAS Offshore, Havyard and Akastor.
Two stocks also reached all-time high. It was Leroy Seafood and Evry.
Oslo Axess-listed Badger Explorer came closest on the list of losers, and pulled down 13.0 percent to 5.44 million.
We also Øystein Stray Spetalen companies Standard Drilling and Nickel Mountain Group, which went back respectively. 8.0 percent to 1.15 million and 8.5 percent to 1.83 million.
New company and Frontline rally
winners topped by Birdstep plus 11.9 percent to 2.16 million, after the launch of the next generation of Always-Smartest-Connected Center (ASC).
One further shares rose tosfiret: Oslo Axess-listed PCI Biotech at plus 11.2 percent to 23.90 million.
Frontline secured a place on the podium after have launched plans to form a new company with the Tankers International LLC. The company is named VLCC Chartering Ltd. ..
The new company will have access to both companies’ fleets, according to Front Line Management.
Frontline- chief Jens Martin Jensen tells Hegnar.no that the combined fleet is less than 60 ships, and that the work of formation of the new company has been going in a few months time.
– We hope that we go together makes us more attractive to our larger customers. It provides better service and greater opportunities, and we expect this to be positive for both parties, says Jensen.
Frontline rose 9.65 percent to 8.98 million.
Oljeservice under pressure
Among the heavyweights oil was still under pressure.
In seismic TGS pulled down 4.6 percent to 156 million while PGS went back 2.9 percent to 39.52 kroner.
Subsea 7 burdened with a decline of 4.5 percent to 87.65 million, while Seadrill fell one percent to 170 , 60 respectively.
John Fredriksen company Deep Sea Supply ended down 4.3 percent to 8.39 million for fleet update for September.
Analysts are clearly disagree on the way further Aker Solutions. Yesterday DNB Markets and RS Platou Markets with widely different analyzes, and today was Goldman Sachs and UBS disagree.
While the former takes a Buy recommendation with a price target of 77.50 million, UBS recommends sale with a price target of 60 million.
The stock fell 3.9 percent to 61.50 kroner.
On the positive side tanks Investments , which rose 4.3 percent to 66.75 kroner.
Union was the only OBX share that avoided the red color. The stock rose 0.4 percent to 136.40 kroner.
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