The main index on the Oslo Stock Exchange ended at 530.64 Thursday, after a rise of 2.43 percent.
Shares and equity certificates were traded for 4.708 million.
The stock exchanges worldwide swung himself up on ECB chief Mario draghi statements in the wake of today’s monetary policy meeting of the European Central Bank (ECB), which held the record low interest rates unchanged – as expected.
ECB chief Mario Draghi said there that interest rates will remain at the same level or lower “for a while”.
Draghi reiterated that the central bank’s securities purchase program will last until at least March 2017, and even longer if necessary.
The “necessary” is that inflation will pick up in line with the goal just under two percent.
– Are not boundaries
At the same time he admitted that the inflation outlook for 2016 is significantly lower now than after previous monetary policy meeting in December.
Draghi envisages that inflation may fall to negative levels, but that it turns up later this year.
Moreover did Draghi clear that the ECB might reconsider its policy in March.
– There are no limits to how far we will go in the use of instruments, said Draghi to the attendees.
Senior Economist Kyrre Aamdal believe it at the next monetary policy meeting in March will be reasonable to wait a little lower interest rates and expansion of securities purchases.
British FTSE 100 rising 0.7 percent, German DAX 0.6 percent and French CAC 40 0.8 percent.
The euro have reacted to weaken against the dollar. EURUSD stands currently in excess of 1.08, corresponding to a decline of 0.8 percent (about one cent).
Wall Street opened nervously after jobless claims disappointed big.
Oil prices turned
Oil prices turned upward after ECB chief draghi statements that policy may be reconsidered in March.
– Draghi said there may be more quantitative easing ( QE) on the way, and the likes market sound off, as it may provide some support to the European economy, said oil analyst Olivier Jakob at Petro Matrix in Swiss Zug said.
Brent March oil now exceeds 1, 5 percent to $ 28.29, after having been in around $ 28 as stock market closed on Wednesday.
WTI oil was up 1.1 percent to $ 28.65 a barrel, compared to around $ 28.60 barrel at closing on the Oslo Stock Exchange yesterday.
– We see concerns about demand and oversupply, says senior energy economist Hans van Cleef at ABN Amro in Amsterdam.
– Weaker demand in the Middle East can fueling the sell-down in oil, and little can stop oil prices from falling below 20 dollars, he said.
Seadrill correction
on the Oslo Stock Exchange ended Statoil up 3 , 4 percent to 101.20 kroner, while DNO climbed 3.1 percent to 4.49 million.
After getting a beating yesterday, turned many oil stocks up today.
First and foremost this applies to Seadrill, which plunged nearly 30 percent in yesterday’s trading. Today corrected stock up 15.0 percent to 16.61 million.
– The bottom falls completely out of Seadrill, and bonds are now traded in the 30s. It is obvious that the stock and bond markets expect a major restructuring of the company, said bond broker Knut Vidje Land of Fondsfinans Finansavisen Thursday.
Bank of America Merrill Lynch downgraded according to TDN Finans Wednesday Seadrill to underperform from neutral, and cut price target by 80 percent, from 70 to 15 million.
Otherwise the oil popping Subsea 7 up 8.5 percent to 48.13 million.
Frontline upsurge
Otherwise among the heavyweights we note that RCCL rose 9.2 percent to 757 kroner, while another John Fredriksen-investment, Frontline, gained 9.8 percent to 19.15 million.
– It is positive for the tanker market that sanctions against Iran repealed, said Frontline CEO Robert Hvide Macleod Finansavisen earlier this week.
At the same time today’s conclusions from the Gulf rising rates eastward.
We also take that Norwegian Hydro advanced 4.4 percent to 27.13 million, while DNB climbed 3.2 percent to 95.10 million.
Marine Harvest dropped 0.2 percent to 111 , 30 million, after Pareto according to TDN Finans has upgraded the stock from hold to buy. The company today also announced the restructuring of its Scotland Farming business.
On the negative side, we also find Nordic Semiconductor, which drew down 5.3 percent to 34 million.
TGS was down most of the day, but turned up and eventually rose 3.6 percent to 103.20 kroner after notification of surveys in Canada.
Seismikkollega PGS also avoided redness and ended up 0.7 percent to 23.29 million.
plunged at issue
Closest Seadrill on the winners we find Polaris Media, which rose 14.3 percent to 24 million on thin volume.
Virtually followed Interoil and Oslo Axess-listed Badger Explorer plus respectively. 10.7 percent to 2.38 million, and 10 percent to 1.32 million.
We note that Awilco LNG rose 9.1 percent to 3.00 million, while RenoNorden ended up 7.3 percent to 38.40 kroner after having notified a garbage contract in Northern Norway.
Taper list is topped sovereign of Bionor Pharma, which plunged 41.4 percent to 85 cents on notice issue.
The company will need 375 to 425 million from Q3 2016 to Q1 2019 to the development of Bios Kill.
Two additional shares fall two digit.
Modest turnover Nordic Financials ended in minus 19.8 percent to 2.80 million, while MultiClient Geophysical fell 27.1 percent to 51 cents.
We also take that Avocet Mining pulled down 9.4 percent to 29 cents, and Deep Sea Supply 9.7 percent to 1.31 million.
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