After a red start ended the Oslo Stock Exchange at the end of plus. The main index climbed 0.59 percent today before it stopped at 573.36 points. It was traded shares for 5.4 billion.
Investment Director Ole Søeberg in Skagenfondene today’s guest in Economy News on HegnarTV. See the broadcast here.
Oil / Statoil
Just before the clock 09.00 Wednesday, North Sea oil traded below $ 50 a barrel. By close of trading, a barrel North Sea oil traded for $ 51.65.
The investment bank Evercore IS says the low price will force energy companies to cut investments in Europe, Asia and North America, the news agency AFP.
Despite expectations of increased investment in Africa and the Middle East, believes the bank that the costs of exploration and production will fall between 10 and 15 percent worldwide.
– To summarize, we can say that a powerful recession is on the way in the global oil industry, said oil analyst James West in Evercore after checking the plans of 300 oil and gas companies.
Statoil climbed 0.94 percent to 128.50 dollars.
Photocure
Photocure reported that US authorities (FDA) has approved the results of Phase II study of Cevira.
The conclusion for a Phase II meeting FDA confirms that the data supports the proposed Phase III program.
Photocure believe they are sufficiently robust to continue Phase III study related to Cevira.
The company continues to work with to find a strategic partner to support Phase III development and commercialization of Cevira.
The share gained 26.43 percent whole before it stopped at 35.40 dollars.
Frontline
John Fredriksen tanker company Frontline jumped 9.50 percent to 26.50 dollars, after having been as high as 28.80 million earlier today.
means the market value of the company has increased by 174.33 percent in a month.
– I think Frontline looking animals, but I realize that people buy Frontline as a leveraged play on tanker rates, says analyst Erik Stavseth in Arctic Securities said.
English
English reported that the company had 1,635,596 passengers in December, up two percent from the year before. Total passenger traffic (RPK) increased by 17 percent, while capacity (ASK) increased by 12 percent.
The planes filled moreover better. The load factor rose by 3.3 percentage points to 81.3 percent.
English set a new passenger record in 2014 with nearly 24 million passengers. There are three million more than last year.
The share ended at 297 million after an increase of 0.68 percent.
PGS
Petroleum Geo-Services illuminated in a stock exchange announcement on Wednesday that the company’s fleet had a fleet utilization of 59 percent within seismic contract in Q4 2014. It is up from 41 percent in the same period last year.
Analysts at Handelsbanken Capital Markets choose to downgrade the stock from reduce to sell, and now operates with a price target of 31 million.
The stock fell 1.09 percent to 40.86 dollars.
Songa Offshore
Songa Offshore came with a fleet update for December. Where it was announced that Songa Dee Songa Delta achieved an uptime of 100 percent in connection with work for Statoil.
Earnings efficiency was 98-99 percent.
Songa Trym, which was suspended November 20, got a rate of 75 percent in December.
The share gained 3.97 percent before ending at 1.57 million.
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