Heavyweight in new top scores went Oslo Stock Exchange Monday. The main index ended up 0.13 percent to 639.73 points, despite the burdensome oil prices. It was traded securities for just under 3.4 billion.
Even lower oil prices
When trading began on the Oslo Stock Exchange Monday, the price for one barrel of oil burned 51.60 dollar. Shortly before the stock exchange closed costed burning oil $ 50.30 a barrel, down 3.66 percent the current day. By comparison, the rate $ 52.97 a barrel at the close of trading Friday. This year’s lowest share price was set on January 13, when the Brent oil was traded for $ 46.59 a barrel.
Read also: – Oil prices can be as low as $ 50 in 2020
The reduction came as a result of the market’s fears of a further increase in the supply surplus. Friday showed figures that American oil producers put even more rigs at work last week.
– This is just another thing that reinforces the pessimistic mood of the market, said analysis director of Mobius Risk Group in Houston, John Saucer, the newspaper Wall Street Journal.
Saucer think prices will test the lows for the year, and that the production “has overwhelmed the market, although demand is rising”.
Meanwhile, Iran, according to Reuters, that they will increase production by 500,000 barrels per day immediately when sanctions lifted, and Saudi Arabia and other heavy OPEC countries shows no sign of deviating from policy to defend market share rather than price.
Statoil coincided with oil prices, ended down 1.59 percent to 136 kroner.
RCCL record
Cruise Lines RCL continued recovery following the presentation Friday and set another all-time -high Monday as the stock ended up new 1.10 percent to 737 kroner.
Standard & amp; Poor’s Rating Services (S & amp; P) upgrading the credit rating on RCCL from BB to BB +, according to TDN Finans.
Norwegian record
DNB Markets expecting much attention around Norwegian’s passenger figures to be presented on Thursday. The brokerage has a buy recommendation on the Norwegian with a price target of 400 crowns per share.
Read also: Norwegian in all-time high – Kjos approaching 3 billion
The stock rose 5.39 percent to 371.40 kroner on the expectations and the weak oil prices. Also Norwegian was listed in new all time high.
New best- and lowest quotations
Besides RCL and Norwegian also set Schibsted A, Idex and Bakkafrost new best quotations Monday.
At the opposite end was Noreco, Dolphin, EMGS, Songa, Avocet Mining, Intex Resources, Archer, Sevan Drilling, EMAS Offshore and Napatech, all of which set new record lows Monday.
From bottom to top
A weak oil prices and political unrest in the Kurdish areas burdened DNO early Monday morning. Before the news that the Kurdish regional government in northern Iraq (KRG) will start with monthly payments to the oil companies in the region of septmeber, was DNO among loser shares on the Oslo Stock Exchange. But the message about upcoming payments sent shares up 13.23 percent to 8.60 million.
– There is a potential “game changer” for DNO, said Swedbank analyst Teodor Sveen Nilsen according to TDN Finans. He stressed, however, that it remains unclear whether it is as if payment for oil exports or the local sales in Iraqi Kurdistan, and that it therefore remains substantial uncertainty about the outcome of the situation actually is.
RAK Petroleum, that around lunchtime were all-time-low and topped the list of losers on the Oslo Stock Exchange with a decline of 10.88 percent to 8.11 million, ended up 1.76 percent to 9.26 million.
Good times for salmon
Strong salmon prices and tight supply side sent Marine Harvest up 3.17 percent to 104.10 kroner.
– It has not happened anything concrete today but market climate is good, said analyst Marius Gaard in Carnegie to Hegnar.no. Also the other salmon stocks could noting decent increase Monday.
Songa continued down
Songa Offshore has received a beating on the stock exchange. Last week weighed the threat of a billion lawsuit. After a brief rally Monday morning, ended the stock down 9.71 percent to new 0.93 million.
Builds a new national museum
AF Group awarded contract for new National Museum in Oslo. The contract value including options is estimated at NOK 500 million.
The stock fell 2.37 percent to 103 kroner.
Intex
Intex and North Atlantic Minerals (NAML) has extended the deadline for signing the creation of the joint venture between the companies to 30 September, the company said.
Intex ended down 2.61 percent to 1.12 million.
Polarcus contract
Polarcus Limited announced a new contract with an unnamed client on a marine 3D seismic project where Polarcus’ Right Band technique used.
The contract, which runs over around 45 days will commence in Q3.
The price could not resist pressure on oil stocks and Polarcus totaled 0.28 million, down 3.45 percent.
No comments:
Post a Comment