The arrows pointing downwards as expected on the Oslo Stock Exchange in early trading Friday.
After 40 minutes of trade stands main index 549.21, after a decline of 0.74 percent.
Shares and equity certificates are traded for 455 million.
The development occurs after rally on Wall Street yesterday and subdued market rises in Asia earlier today.
Investors dislike weaker than expected growth China’s industrial production.
WTI oil 50s
WTI oil dropped below $ 60 in New York yesterday, and the fall was according Blooomberg enhanced by OPEC’s three largest member states, Saudi Arabia, Iraq and Kuwait has granted the largest price cuts to Asia at least six years.
While this affects manufacturers and nourishes deflation fears for some central banks, can American consumers put more money in your pocket, as employment increases and the Federal Reserve considers when interest rates should be increased.
– The collapse in oil prices will come the big oil consumers to good, including the United States, India and Indonesia, while Russia and Middle Eastern countries affected, says commodity analyst Hong Sung Ki at Samsung Futures in Seoul news agency.
– For Japan and European countries who worry about deflation, the falling oil prices allow for a more aggressive monetary policy, he adds.
– Focus on demand
Having been down to $ 58.85, says WTI oil Friday morning in $ 59.38 a barrel, down one percent in today’s trading.
Brent January oil traded $ 63.43 a barrel, down 0.4 percent in the current trading. Lowest quotation here is $ 63.00.
– The weakness in oil prices over the last few days have been a feature of the concern shifts slightly above the demand side now, says chief analyst for commodities in Asia, Mark Keenan, with Societe Generale Singapore said.
– Investors may have overlooked some how demand profile for next year looks, he adds.
PGS hegemony with Ferd
On the Oslo Stock Exchange falls Statoil 0.3 percent to 123.20 million, while DNO pulls down 1.4 percent to 14.48 dollars.
Most OBX shares open down, but the impact is relatively modest – mostly within 1.5 percent.
Aker Solutions is an exception of minus 3.2 percent to 34.78 kroner. Otherwise DNB among those who distinguish themselves most negatively, with a fall of 1.7 percent to 111.70 kroner.
RCCL has doubled on the stock exchange so far this year but fall 0.5 percent to 570 million Friday after Arne Alexander Wilhelmsen has sold shares for NOK 29 million.
On the positive side rises PGS 1.3 percent to 39.61 million at today clearly the highest volume, triggered by Ferd fight purchases Thursday.
English also draws up slightly.
Frontline- rally continues
Frontline excels most, continuing the strong rally from yesterday, when Fearnley reported significant increase in activity and marked rate increase for VLCC is the last week.
The share rises 14.5 percent to 13.85 million.
Virtually on the winners for the Oslo Axess-listed Cecon, which rises 11.1 percent to 40 cents.
We note Songa Offshore which put on 6.9 percent to 1.56 million that Songa Trym be back on the field for Statoil from next year.
Taper list is topped by Aurora LPG, falling 6.0 percent to 47 million.
Sevan Drilling, Asetek and Aqualis follows closest with declines of 5-6 percent.
We come with more.
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