The celebrations continued on the Oslo Stock Exchange Friday. The main index ended up 1.75 percent to 656.31, which is superb new record. Higher oil prices must take part of the credit for the upturn. Internationally it also creates optimism that it seems that Americans do not put up interest rates until later in the year. Less political tensions in Greece ibidro to recovery.
Turnover was 5.2 billion.
The main index rose thus 5.5 percent during the short week after Easter. The return last month at 6.9 percent, while the stock exchange is up 13.9 percent so far this year.
– Can go about 40 percent
main index can go in the 900, believes Swedbank analysts.
The brokerage writes in a strategy update that although the price / turnover ratio on the Oslo Stock Exchange is high, is still the price / book ratio below historical levels. Further increase is expected, according to TDN Finans.
A strong overweight recommendation on shares maintained.
“If the market continues to increase in line with book values, investors will have a great trip, compared with the alternatives “writes Swedbank.
Oil price bounces up
price of oil rises again. North Sea oil traded for $ 57.58 a barrel, up 1.8 percent, while US light crude is up 0.9 percent to $ 51.26 a barrel. Oil prices firmed by around a dollar since lunch.
Statoil gained 1.3 percent to 154.10 dollars.
English took off
But it was English that dominated.
The share ended up 15.7 percent to 286.40 million after the company this morning put forward traffic figures for March, and thus a preliminary “strike expense” after the long and times heated pilot conflict.
The bill sounds tentative 350 million, but airlines alerts that negative effects can be expected also in April.
Traffic figures showed nevertheless a nice increase in load factor, and the company states that ticket orders have gradually picked up again.
DNB Markets believes the numbers were better than expected.
The brokerage has a buy recommendation with price target 330 million. Even after today’s rally looks DNB Markets an upside of almost 25 percent.
Also other analysts believe the traffic figures were surprisingly strong, pilot strike taken into account.
Marine Harvest downgrade
Sparebank 1 Markets downgrade now John Fredriksen, Marine Harvest from purchase to neutral, reports TDN Finans.
They have revised simultaneously price target on the stock from 118 to 110 million.
Marine Harvest rose 0.7 percent to 93.70 dollars.
– Do not sell the stock
Aker Solutions rose 6.5 percent to 48.46 kroner after Deutsche Bank upgraded from sales to hold.
Spetalen up and down
Weifa climbed 2.4 percent to 85 cents after Øystein Stray Spetalen sphere bought even more shares.
Spectrum, also with Spetalen ownership, experienced a price drop of 7.8 percent to 33 million after having notified sharp fall in revenues in Q1.
Seven x all time high
Six stocks listed new historical highs. It was Paving, Kongsberg, DNB, RCCL, Borregaard, Ocean Yield and Gjensidige.
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