Oslo Stock Exchange ended down Friday, thanks to falling oil prices. The benchmark index fell 0.7 percent to 653.64. This means that the stock exchange is up 13.5 percent so far this year.
Turnover was relatively modest 3.6 billion, suggesting that many investors had taken off on the constricted Friday.
Does the oil run out for themselves?
Oil prices have put behind them the ninth week in a row of gains, the longest period of expansion since 1983, but Friday pointed arrows down.
Analysts point out according to news agency that oil prices have over performing in relation to the fundamental situation. The offer continues to exceed demand, which is hampered by a lackluster world economy.
Brent July oil falling 1.8 percent to $ 65.58 a barrel. Price is thus down around a dollar since opening trade.
The US WTI oil falling 1.9 percent to $ 58.74 a barrel.
Significant Statoil-fall
on the Oslo Stock Exchange fell 2.8 percent to Statoil 154.50 million.
Operator OMV announced Friday at the dry well in production license 537, where Statoil has a 15 percent share.
Seadrill-peel
John Fredriksen’s Seadrill rig company plunged 10.1 percent to 98.40 kroner in heavy trading; 333 million.
On the negative side, we note also Seadrill, falling 5.8 percent to 103.20 kroner.
The stock rose sharply Wednesday, but went on a blow to New York yesterday.
Equity Strategist Kristian Tunaal DNB Markets characterized Wednesday’s rise as premature.
– Even if oil prices were to stabilize at, let’s say $ 75, maybe even $ 80, so will still rig the market to fall, he told Reuters.
But Frontline rally
Fredriksens tanker company Frontline rose 6.7 percent to 19.20 kroner .. The rates have remained strong while and lifted further from the Persian Gulf. Eastwards the rates of WS 70 for the largest ships, equivalent to earnings close to $ 72,000 per day, up from around $ 60,000 on Wednesday, Reuters reported.
Yara and Hydro step
Among the heavy stocks excellent Yara and Norwegian Hydro positively with an increase of around two percent.
New record for Bakkafrost
Livestock Company Bakkafrost presented record results earlier this week. Shares rose 5.7 percent to 203 kroner. Intraday-high was 204.50 million, which is a new record.
In Finansavisen Friday drag manager of Holberg seafood funds, Jann Molnes, until the stock as one of his great favorites.
Salmon prices falling slightly Friday, reports IntraFish.
Noreco splice
Norwegian Energy Company ASA (Noreco) was on Friday quoted ex reverse split. 100 old shares give 1 new share. Thus, the stock fell by 10.3 percent to 35 million.
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