European bourses pulled up on the stock market turmoil in China seems to be over for now, while the tempers of the Parties to Greece crisis softens after one now looks to speed up the processes in the Mediterranean country.
When the Oslo Stock Exchange closed was Dax index up 0.43 percent while the CAC40 was up 0.30 percent.
Having been in positive territory most of the day, pulled the main index on the Oslo Stock Exchange, however, down beyond afternoon and ended at 648.56 points, down 0.08 percent.
There was traded securities 2.94 billion.
Oil prices
Already several weeks before the nuclear agreement between Iran and the 5 + 1 group was in place began oil prices ticking steadily down on expectations of increased exports from Iran.
One barrel burning oil which cost about $ 57 a barrel when trading began on the Oslo Stock Exchange on Monday morning, was down 0.72 percent intraday to $ 56.69 when the stock market closed.
Statoil, which was today’s third most traded stock by Telenor and Yara, ended down 0.50 percent to 138.50 kroner.
Iran cheers for Fredriksen
With an increase of 7.98 percent to 22.32 kroner was Frontline, winner shares Monday.
– The agreement reached last week between Iran, the permanent members of the UN Security Council and Germany related to Iran’s nuclear program is expected to be positive for rates in the tanker market, writes Morgan Stanley shipping analyst Fotis Giannakoulis according to Bloomberg and TDN Finans.
The analyst believes that a revival of Iranian oil by atomic program agreement will be able to fill at least 15 VLCCs. Morgan Stanley goes up expectations of VLCC rates 21 percent compared with previous forecasts, and waiting day rates averaging will remain at $ 58,000 in the second half of 2015.
The competitors are priced higher than Yara
Yara rose 1.69 percent to 408.10 dollars Monday, after nitrogen producers CF Industries and OCI both confirmed they are in talks about a possible merger.
Analysis Manager Anne Gjøen Handelsbanken Capital Markets Yara is now relatively low priced compared to competitors such as CF and OCI.
Yara way forward quarterly Tuesday. According to TDN Finans is on average expected the company will present a net profit of 2.83 billion and earnings per share. share of 10.27 kroner. In the same quarter last year the company had a net profit of 2.285 billion and earnings per. share of 8.26 dollars.
Increased risk around Telenor guiding
Profit and guiding of the subsidiary DTAC went down Telenor shares 0.76 percent to 182.40 kroner . Consolidated in Norwegian kroner got DTAC an operating profit of 550 million in Q2 2015, down from 831 million the corresponding period in 2014.
DTAC lost 1.48 million subscribers during the quarter, and guides down a number of areas.
Analyst Jon D. Gjertsen in Pareto Securities looks according to TDN Finans increased risk related to Telenor’s guiding after DTAC Monday downgraded its guidance.
Telenor presents quarterly Wednesday.
– The stock has gone too far
In a recent report by DNB Markets Monday, said analysts that they like the long-term history of Tomra but think the stock is up roughly 30 percent so far this year, has gone too far.
After the company Friday surprised with a strong second quarter but at the same time presented a tame guidance for Q3, chose DNB Markets downgrade Tomra’s stock to hold from purchases and cut price target from 83 to 80 million. Again decent increase Friday fell Tomra share back 4.46 percent to 75.00 dollars Monday.
Weak outlook
Halliburton presented quarterly early Monday afternoon, before Wall Street opened. The figures surprised on the upside, but oil giant’s guidance for industry was bleak. CEO Dave Lesar said during the presentation that the current service rates are below sustainable levels.
Oil service shares on the Oslo Stock pulled down. Both Aker Solutions and Akastor fell about four percent.
Purchase Option for BW LPG
BW’s wholly-owned subsidiary BW Euro Holdings Limited, has acquired 6,000,000 shares in NYSE-listed Dorian LPG. Thus BW a stake of 10.2 percent in Dorian.
The acquisition was made to the share price $ 15.34 and total BW paid $ 92 million, equivalent to barely 754 million. BW has given BW LPG an option to purchase the shares at the same share price.
BW LPG drew up 2.14 percent to 66.90 dollars.
Firer flag
Friday sold Prudential down in Storebrand, and is under the disclosure threshold of five percent. Storebrand shares fell 1.43 percent to 35.19 dollars.
Better rates
Golden Ocean and Jinhui rose respectively. 3.24 and 0.75 percent after further rise in bulk rates. Baltic Dry Index gained 1.8 percent Monday, and there were rate increases in all segments.
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