Oslo Stock Exchange has completed a volatile Friday. At the most the main index down 1.1 percent, but when the end is good, as is known all things well. The closing price sounds at 577.60, up 0.7 percent.
It also means that the week was the best since 2011, with an increase of six percent.
2014 return is so far of 5.2 percent.
Oil prices up
Oil prices rise Friday after Thursday joined at their lowest since 2009.
Brent February oil rises 1.6 percent to $ 60.21 a barrel, while the US WTI oil is up 2.5 percent to $ 55.76 a barrel.
Oil prices have fallen over 25 percent since OPEC, with Saudi Arabia in the lead, decided to keep production unchanged.
Statoil flat – upswing for The Norwegian
Statoil opened down after oil discovery Krafla North and dry well in the Norwegian Sea, but closing price sounds at 132.20 million, down a modest 0.4 percent.
Krafla partner The Norwegian opened down but gold standard show an increase of 5.3 percent to 40 million.
G oldman Sachs cuts in oil
Seadrill fell 6.1 percent to 88 , 45 million, having been down to 84.20 million. The downturn came in the wake of Goldman Sachs according TDN Finans has downgraded the stock from “neutral” to “Conviction sell.” Week return, however, was at plus 7.3 percent. So far this year Seadrill down brutal 61 percent.
– Despite weak because of the company’s decision to cut dividends and deteriorating conditions in the drilling market, we believe it is substantial further downside risks, writes brokerage
Goldman Sachs has also cut the price target on Subsea 7 from 80 to 69 million. The recommendation is “neutral”, Reuters.
Handelsbanken cut earlier this week price target from 85 to 72 million, and showed a very modest orders – and small expectations for a recovery.
Subsea 7 ended down 0.8 percent to 79.45 dollars.
Courses aim at Prosafe cut from 28.20 to 24.50 million, with a neutral recommendation, while Odfjell Drilling price target cut from 12 to 9.30 respectively. Here is the recommendation “sell”.
Prosafe fell 0.1 percent, with Odfjell Drilling rose 4.9 percent
PGS cuts on capital markets day
PGS has also been downgraded from “neutral” to “sell” by Goldman Sachs on its Capital, where the company guides a lower 2015 profit – and lower yield.
Today’s update from PGS looks initially to be on the somewhat disappointing since relative to market expectations, according to DNB Markets.
The company guides EBITDA for 2015 of 550-700 million, against broker house estimate of $ 650 million and the consensus of 656 million dollars.
The stock fell 3.7 percent to 41.70 dollars.
Journey Spetalen and Fredriksen
Analysts DNB Markets starts coverage of Weifa. According TDN Finans has resulted in a purchase recommendation and a price target of 90 cents.
DNB Markets believes Weifa will continue to report a strong and good earnings growth and use cash to smaller acquisitions.
Øystein Stray Spetalen and John Fredriksen is among the largest shareholders in the company.
The share rose 10.6 percent to 73 cents.
Noreco up happy message
Noreco ended up 6.4 percent to 1.00 million in the message that Huntington reopened.
New Opera record
reached a new milestone The shareholders of the IT company Opera Software. this morning broke the stock through 100 million for the first time ever. At the highest standing in stock 100.90 million. The stock fell back however during the day, so that recovery was limited to 0.5 percent to 97.20 dollars.
– You have seen that there has been an apparent rotation lately in relation to focus in sectors other than oil and gas, says analyst Christer Roth DNB Markets to Reuters.
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