Oslo Stock Exchange rose slightly Friday but the weak oil price at the end of the day was looming for the upturn. The main index ended up 0.1 percent to 636.20. The focus was directed towards the United States, where the monthly employment report was released 14.30
“Month main report” suggests an interest rate increase
Employment in the US rose by 215,000 in July. It was, according to Reuters expected an increase of 223,000, while DNB Markets’ estimate was 250,000. May and June were revised up by a total of 14,000.
The unemployment rate remained unchanged at 5.3 percent, also it was assumed that in advance.
“The report was very close to the expectations in all areas, both for employment, unemployment and wage growth. Is this strong enough that the Fed will raise interest rates on September 17? We think so. The bottom line is that there is little remaining slack in the labor market, “writes DNB Markets’ economist Knnut A. Magnussen in an update.
Oil prices fall again
price of Brent Oil rose on Friday morning, but at closing on the stock exchange was the down 1.4 percent to $ 48.84 a barrel, while the American WTI oil was down 1.0 percent to $ 44.17 a barrel.
For comparison, a barrel of North Sea oil traded at $ 49.30 a barrel at the close of trading Thursday. This year’s lowest share price was set on January 13, when the Brent oil was traded for $ 46.59 a barrel.
index Heavy Statoil ended up 2.3 percent to 138.80 million and contributed so greatly to Keep Stock Exchange plus.
Rigg Fest
John Fredriksen’s Seadrill rig company ended high on the list of winners on the Oslo Stock Exchange Friday. Recovery was 7.5 percent to 71 million. Thursday the stock was down in årsbunn 64.70 kroner Thursday. So far this year, Seadrill plummeted 18 percent.
According to Reuters code using a jump of 12 percent in Transocean, which owns most rigs in the world. Transocean’s quarterly helped by an insurance settlement of $ 735 million related to the Macondo accident in 2010.
Fearnley Securities analyst Truls Olsen also believes that coverage of short positions may explain part of the rise, according to TDN Finans.
Several other rig stocks made it clear. Songa Offshore rose 11.3 percent to 1.18 million, while Fred. Olsen Energy was up 3.9 percent to 38.32 million.
More upturn in oil
It was not just rig shares valedictorian positive for oil service companies. Seismic companies PGS and TGS ended up 2.5-3.0 percent, while Subsea 7 rose 2.5 percent.
Funcom
After mageplasket with Lego Minifigures Onlines- launch Funcom has hired ABG Sundal Collier to look at strategic alternatives for the company.
This includes according to the stock exchange notice any opportunities for investments, acquisitions and mergers.
The market sent Funcom down 6.7 percent to 83 cents.
New Appointment for EMGS
Electromagnetic Geoservices has signed an agreement with an oil company that wants to perform 3D EM work in Malaysia.
Agreement size is $ 4.2 million, equivalent to NOK 34.8 million.
The news sent the stock up 2.2 percent to 1.40 million.
hoarding stocks in Aurora LPG
QVT Financial bought 500,000 shares Friday in Aurora LPG, now consequently over 15 percent of shares in the company.
The stock ended up 1.3 percent to 60.25 kroner.
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