Oslo Stock Exchange opened down 0.3 percent Friday morning and downturn continued throughout the day. The benchmark index ended the day with a decline of 0.74 percent to 627.80.
The main index is thus up 0.8 percent over the past 12 months and up 9 percent since January. In the last month the main index fell 3.5 percent.
22 of the 25 shares in the OBX index fell and it was traded shares and equity certificates for 2.1 billion.
Developments came in the wake of a nervous fall on Wall Street Thursday (closed today due to the celebration of Independence Day on Saturday) and a sharp decline on the Shanghai Stock Exchange Friday.
Shanghai Composite fell 5.77 percent to 3686.92 Friday and is thus down 28.8 percent since its peak on June 12 at 5178.19.
Oil Stocks fell the most
Brent oil fell 0.7 percent to $ 61.37 a barrel, while WTI oil fell 0.57 percent to $ 56.36 a barrel.
Statoil fell 1.9 percent to 138 million on lower oil prices, while The Norwegian ended down 2.1 percent to 55.55 dollars.
Sevan Drilling was today’s loser with a fall of 7.7 percent to 9.18 million, followed by Avocet Mining and Havila .
PGS fell 2.4 percent to 39.75 kroner, DNO ended down 1.9 percent to 10.25 kroner and TGS fell 2.2 percent to 178 million.
It was a heavy day for John Fredriksen with Seadrill down 3.4 percent to 78.85 kroner and Frontline which tumbled 4.2 percent to 19.12 kroner. Marine Harvest dropped an additional 1 percent to 89.95 kroner.
Subsea 7 opened up Friday morning, after four new contracts “down under”, but turned down and ended the day with a decline of 0.6 percent to 75.6 million.
English turned down also and ended Friday with a fall 1.5 percent to 324 kroner. And Monday comes traffic figures for June.
Orkla and REC were two of the three OBX shares that rose. REC rose 0.65 percent to 1.71 million and Orkla ended up 0.4 percent to 62.35 dollars.
news that affected
Yara was today’s most traded and rose 0.34 percent to 412.5 million despite reports of a fall in urea prices and according to TDN Finans expectations that they may fall further in the coming weeks.
Atea announced that it has signed a 4 year contract with NAV at 40 to 60 million per year. The stock fell still 1.1 percent to 69.5 million.
Norway Royal Salmon announced that Nyhamn AS, a company owned by Martin Sivertsen, had entered into a 6 month forward contract on 1 one million shares at a forward rate of 63.7 kronert maturing on January 21, 2016. Nyhamn holding of 2,200,000 shares in the aquaculture company, representing a stake of 5.07 percent.
The stock was down large parts the day but ended up 0.8 percent to 63.75 dollars.
NEL ASA-daughter NEL Hydrogen reported Friday morning on the conclusion of a public-private partnership with Akershus County Council for the construction of a hydrogen station in Oslo.
The market reacted by sending the stock up 4.2 percent to 2,2,46 dollars.
Opera was long up, but ended with a fall of 1.45 percent to 68 crowns. After the stock market closed came the message that the fund fovarltet of DNB Asset Management had sold 150,289 shares in Opera and with it broke the disclosure threshold. Funds now have 7.2 million Opera shares and a stake of 4.95 percent.
Monday quoted Interoil Exploration ex reverse split and 10 old shares give 1 new with par value of 50 ear. Last traded shares is 25 cents and in theory should share when open 2.5 million Monday.
Pressure on oil prices
Friday’s fall comes after rig count from Baker Hughes showed an increase for the first time in half a year, in addition to the Chinese authorities have opened investigations into possible market manipulation.
– The negative sentiment stemming from the increased number of rigs in the United States (with 12 to 640). US shale oil producers have cut breakeven cost from 35 to 20 dollars a barrel, writes ANZ bank told Reuters Friday.
Goldman Sachs writes according to news agency that the number of horizontal and vertical rigs in the Permian, Eagle Ford, Bakken and Niobrara implies an growth in US oil production of 135,000 barrels annually in Q4 this year.
The rig count in the US is in addition to that production in OPEC and Russia are near record levels.
Greece-nervousness
Investors in Europe were cautious ahead of Sunday’s referendum in Greece.
It was red on most European exchanges with the FTSE 100 in London down 0.6 percent, the CAC 40 in Paris down 0.75 percent and the DAX in Frankfurt down 0.48.
In an interview with the Greek television channel ANT 1 Thursday evening, Prime Minister Alexis Tsipras according to international news agency that he expects with Greece will have put in place a new agreement with creditors within 48 hours after the referendum.
In the interview he characterized pictures of long queues in front of ATMs as “an embarrassing sight,” but gave the other euro countries blamed for it .
Thursday released IMF a new analysis showing that Greeks need over 60 billion euros in new financial support over the next three years to stabilize the economy.
Meanwhile, wrote the Financial Times that the IMF – like Germany – lays much of the blame for the deteriorating situation in the country on the incumbent government.
Thus putting Fund, headed by Christine Lagarde, the guy on the debate before Sunday’s controversial referendum.
Tsipras believes IMF report justifies voting no. He leans on the same report when he according to Bloomberg believes that the only way the country can get out of the crisis is that the debt cut by 30 percent and made repayments in 20 years.
IMF report here
No comments:
Post a Comment