Oslo Stock Exchange was expecting something down Tuesday in the wake of new price bottoms on oil. The answer in the morning showed a nervous development, where it has fluctuated between plus and minus. After 23 minutes trading was the main index up 0.3 percent to 575.18.
Since then the arrows are pointing upwards, and at lunchtime ladders main index 1.09 percent to 579.86
The main index has fallen by 0.1 percent so far this year.
Should we fix the interest? Today’s guest in HegnarTV Peter Batta in Huseiernes Association. Follow with kl. 15.30 on www.hegnar.no
Looking oil 30s
Analysts at Goldman Sachs says that the bottom of the oil market is not reached.
The US light crude is at lunchtimes down 1.73 percent to $ 44.89 a barrel. In the morning fell WTI oil to the lowest oil prices since spring 2009, but the fall in prices have since eased somewhat.
Brent oil traded for $ 47.61 a barrel, down 2.24 percent in today’s trading. At the stock exchange opening price was $ 46.78, down 3.9 percent.
Analysts at Goldman Sachs believe the price of US light crude may fall down to $ 39 a barrel within a half years. Also North Sea oil will continue to fall in value because of a saturated market, according to analysts.
– Short Statoil
On the New York Stock Exchange explodes short interest Statoil shares .
– I understand well, said John Olaisen in ABG Sundal Collier Finansavisen Tuesday.
– Historical Statoil been priced at between 8 and 12 times the estimated twelve month earnings. If one is kind and says that it should be priced 12-time opportunity, so the company must earn 10 kroner. share. But if Statoil will manage it must be oil prices around $ 85 per. barrel. This screams out a short, says the analyst said.
Statoil is now up 2.38 0.6 percent to 128.80 dollars.
On today oil prices mean analysts DNB Markets valuation of Statoil sees challenging out.
“Course level, however, reflect expectations of future oil prices and forward curve implies that markets expect the price to back up to over $ 70 per barrel. Expected dividend yield is 5.7 per cent while and will eventually creep over 7 per cent if the price falls to 100 per share, “writes brokerage in an update.
Capital of TGS TGS-NOPEC
reports that quarter revenues in the fourth quarter was a record high. They are according to the company waited in at around $ 298 million, up 10 percent from the year before.
Analysts had expected revenue of $ 251 million, according to TDN Finans.
The expected revenue around $ 915 million throughout 2014, up four percent from 2013. Previously guiding was 870-950 million dollars.
TGS expects revenues of approximately $ 750 million in 2015 and an operating profit of about 260 milllion dollars.
It is proposed that a dividend of NOK 8.50 per share.
TGS rising 5.05 percent to 164.40 dollars.
Yara
The US Department of Agriculture USDA estimates according TDN Finans that US 2014/2015 production of maize, which is the main cereal crop nitrogen demand, will be at 14.216 million bushels, up from 14,407 in the previous report.
Fondsfinans points out that it means less planting and thus less demand for nitrogen fertilizers in corn market.
On the basis of this downgrade Fondsfinans Yara from purchase to neutral, while the price target is pulled up from 360 to 385 respectively.
The brokerage also writes that they believe Yara heading technically has topped out.
Yara rises at lunchtime 0.86 percent to 398.20 dollars.
Hydro
After the stock market Monday let Alcoa forward slightly better results than expected Q4 and held simultaneously growth prospects for the global aluminum market at 7 percent in 2015. The stock reacted initially with a increase of just over 1 percent.
The report from Alcoa gives DNB Markets’ view no basis for changes in the purchase recommendation on Norwegian Hydro and price target of 51 per share.
“In the extent we receive a response in Hydro share at the opening, we expect that this will be muted positive relative to the market in general, “the report in today’s morning.
Hydro rising 1.62 per cent to 42, 01 million
DOF Subsea contracts
DOF Subsea, a subsidiary of DOF ASA, has been awarded several new contracts
and has been extended existing contracts from key customers in the Asia region.
DOF rising 0.71 percent to 14.10 dollars.
Tank Lines surging forward
Tank shipowners Frontline and Thoughts Investments is up 16.16 and 6.52 percent. Frontline is thus completely up in 38.10 million.
Frontline ended nine percent higher in New York than in Oslo Monday. At three months, Frontline risen wonderful 323.80 percent. So far this year the stock has gone 102.66 percent. The many brokerages who suggested Frontline as New Year rocket can cheer.
Albert Collett has taken Thoughts Investments into its ukeportefølje.
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