Oslo Stock Exchange opened in positive territory in the wake of record highs in the US Monday night rally in Japan this morning and after statements by the chief of the European Central Bank (ECB), Mario Draghi, that the bank is considering the purchase of government bonds in order to speed up low inflation in the euro zone.
Stock Exchange also rose on surprisingly strong ZEW figures from Germany.
The main index ended up 0.43 percent to 600.89, having been up over 1 percent earlier in the day. The mood was dampened by oil prices turned from plus to minus.
The last month has risen throughout Exchange 8.55 percent, while the 2014 return is at 9.48 percent.
Oil prices fall, oil stocks s teg
price of North Sea oil is down 0.83 percent to $ 78.65 a barrel by close of trading on Tuesday, while the rate was 78, $ 66 when the stock market closed Monday.
JP Morgan downgrades Statoil from overweight to neutral and set while the price target for 2015 from 220 to 176 million.
Statoil still rose 0.27 percent to 148.50 million.
We note otherwise that Seadrill rose 2.16 percent to 142 kroner. Subsea 7 steps on its side with 1.13 per cent to 80.35 million.
Opera third largest in the world in apps
Norwegian Opera Software stated Tuesday in a press release that they have entered into an agreement with Microsoft, which has acquired the mobile division of Nokia, to take over the company’s app store for the mobile market.
In the first quarter of 2015, “Nokia Store” replaced with “Opera Mobile Store” that standard option for “Nokia feature phones”, “Symbian” and “Nokia X ‘smartphones. Thus, hurtling the Oslo Stock Exchange-listed company as the world’s third largest app store.
Opera’s shares rose today 4.98 percent to 86.50 million.
Waiting dividends party DNB
DNB has a long-term dividend policy of a payout ratio of around 50 percent of the profits. To strengthen the capital adequacy ratio, the Bank has temporarily communicated a payout ratio of around 25 percent between 2013 and 2016.
-With the low credit growth DNB now has 3-4 percent, which they manage to have a return on equity of 12 percent , they have room to pay out a little more in dividends in the future. It will be interesting to see what they say about it. Maybe they will increase dividends or announce share buybacks. I think this will be the main focus in the Capital Markets Day, says Astrup TDN Finans.
Also SEB analyst Christopher Adams believes DNB may raise the level of dividend for the next three years.
The share rose 0.5 percent today to 121.80 million.
Source Rock cuts losses
Rock Source reported a profit after tax of NOK 8.2 million in the three . quarter 2014, compared with a loss of NOK 23.5 million in the same period last year.
Rock Source ended down 0.83 percent to 6 million.
Lousy guiding from Napatech
Napatech Melldén on a net income of 1.8 million Danish kroner in Q3 2014, compared with -3.2 million Danish kroner in the same period last year.
The company have revised while guiding. It is now expected no revenue growth in 2014, while earlier guidance was at 17 to 23 percent growth. Also EBITDA forecasts are cut sharply by a margin of 18-23 percent to around 10 percent.
The stock opened up, but eventually fell 6.05 percent to 32.60 million.
PCI Biotech
PCI Biotech reported a profit before and after tax of NOK 8.3 million in Q3 2014, compared with minus 6.6 million in the same period last year .
The company had 19.6 million dollars in cash at the end of the quarter, compared with NOK 52.5 million in the same period last year.
PCI Biotech was this morning down 10.5 percent to 23 kroner on the Oslo Axess, but has since leveled out completely at 25.70 million.
Wentworth
Wentworth Resources Ltd reported a profit after tax at minus $ 1.3 million in Q3 2014, compared with minus $ 3.4 million in the same period last year.
The reward is an increase of 3.74 per cent to 3.88 million.
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