Oslo Børs keep moving.
In writing is the main index of 612.69, corresponding to an increase of 1.81 percent.
Shares and equity certificates are traded so far for 2918 million.
The main index is thus up 5.7 percent last month, and 14.3 per cent last year.
development occurs in the wake of rise in New York yesterday and mixed Asian exchanges before today. Sydney Stock Exchange was among the winners after Australia’s central bank cut interest rates.
European bourses also rising markedly.
British FTSE 100 pulls up 1.2 percent, German DAX 1.3 percent, while French CAC 40 put on 1.4 percent.
Oil giants cuts
Oil prices continue recovery, and Brent March oil rises Tuesday afternoon 3.3 percent to $ 56.55 a barrel, while WTI oil is up 3.1 percent to $ 51.08 a barrel.
For comparison, a barrel of Brent crude traded around $ 53 when the exchange closed Monday. Year lowest quotation for the front contract, $ 46.59 a barrel, was reached on January 13.
Read also: Predicts strong growth for oil prices
BP has informed the market that the oil giant will cut investment by 13 percent to $ 20 billion in 2015. This happens week after Chevron also talked about cuts of 13 percent to 35 billion dollars.
– That big oil companies cut investments, providing support to oil prices, says chief analyst Michael Hewson in CMC Markets said.
– We have seen many oil companies advertise significant cuts in capacity investments and number of rigs. What we get is a downward revision of expectations as a result of the measures being done, he adds.
Oil rally continues
A powerful rising oil prices are naturally a boost for oil sector on the Oslo Stock Exchange.
Statoil leads the way with a rise of 4.2 per cent to 140.60 million at today clearly the highest volume. DNO is up 4.5 percent to 18.44 million, while the Norwegian oil company climbs 10.9 percent to 39.48 million.
Seadrill, which has been very much a beating in the Lately, mark favorably by bouncing up the entire 7.4 percent to 93.40 kroner. Morgan Stanley cuts according TDN Finans price target from 22 to 17 dollars, but retains its overweight recommendation.
We also take with Subsea 7 plus 5.0 percent to 75.25 million, while seismic duo PGS and TGS both rising around 2.7 percent – respectively. 46.29 and 190.60 respectively.
Prosafe rising 10.5 percent to 24.30 million.
Outside oil we note REC Silicon plus 8.6 percent to 1 , 87 million, while Storebrand put on 4.4 percent to 24.24 kroner. Hydro rising 1.7 percent to 45.48 kroner after Nomura starts coverage with purchase.
When it comes to the latter, Handelsbanken according to news agency downgraded the price target from 46 to 40 million, but repeated purchase recommendation.
Among few losers are English, affected by higher oil prices. Stock drops one percent to 285.80 kroner. Yara pulls down 2.0 percent to 391 million.
To the top after placement
winners topped by Seabird Exploration, which rises 17.4 percent to 27 ear after having made an issue of around $ 11.6 million at a price of 10 cents.
Closest follows Aker Philadelphia Shipyard plus 14.7 percent to 90 million, while Northern Offshore draws up 10.8 percent to 3.60 million.
At the other end we find Zoncolan, falling 33.3 percent to 86 cents on thin volume.
Rocksource pulls down 16, 7 percent to 4.50 million, while NEL, Øystein Stray Spetalen ownership, returning 7.9 percent to 1.29 million.
No comments:
Post a Comment