The main index on the Oslo Stock Exchange climbed today to 0.36 percent before ending at 645.98 points. It was traded shares for 3.45 billion.
During the past week the Oslo Stock Exchange fell 1.43 percent while the main index is up 12.14 percent since January.
Oil / Statoil
A barrel of North Sea oil traded for $ 64.87, down 1.26 percent.
According to Bloomberg News and TDN Finans is the reason for the decline include a report from Saudi Arabia that the country produced a record volume of 10.33 million barrels per day in May.
Also in the US rose oil production, although oil inventories fell for the sixth week in a row during the week until 5 June, announced EIA Wednesday.
– The story of Saudis are the same, they are seeing increased demand. Their rhetoric is that they have to increase, and they show this through their actions, says investment manager at Ayers Alliance Securities in Sydney, Jonathan Barratt, the news agency.
Statoil fell 0.14 percent before the stock ended at 146.10 million.
Siem Offshore
Board of Siem Offshore proposed Thursday to complete a private placement with gross proceeds of $ 100 million, equivalent to almost 780 million crowns. That sent the stock down ten percent to 1.89 million.
“With the current charter rates and utilization level the company would not generate sufficient cash flow from operations to pay all scheduled payments on its debt without additional capital,” writes company In a message.
The management also proposes an extension of the company’s credit facility of 2.5 billion for six AHTS, which expires in November, and easing certain requirements for its banks for the next year.
Archer
John Fredriksen company Archer stated in a message that the company probably will not be able to perform as well in Q2 as guidance by the end of Q1 indicated.
It is estimated that revenues in Q2 is now 35 percent below Q1.
In addition, costs increased for operations in Latin America, and operating costs in Q2 are estimated to the $ 10 million of costs in Q1.
The stock fell 7.82 percent to 2.71 million.
XXL
XXL has received a preliminary ruling from the tax authorities on income in the years 2010, 2011, 2012 and 2013.
Tax East proposes to increase Group revenues by NOK 323 million related to tax deductions for interest payments on loans to affiliated parties. It is stated in a stock exchange release on Thursday.
In addition, we propose tax authorities to withhold tax at 81 million, and to impose a penalty tax of 30 percent.
A final decision is not taken, and tax authorities are now waiting for a response from XXL.
XXL makes it clear in the message that the company disagrees with the tax authorities, and it intends to protest the decision.
XXL ended Thursday at 87.50 dollars, down 0.57 percent.
Nordic Semiconductor
Nordic Semiconductor has received a new order of bluetooth smart components to wearables market with a value of $ 1.6 million.
In addition, there are reports that the company, together with Frontline, are included in the OBX index from Friday 19 June.
The stock climbed 4.17 percent to 56.25 dollars.
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