Oslo Stock Exchange has left behind a very strong Friday where the main index rose 1.8 percent to 566.34.
The market was backed by strong oil stocks as a result of the oil price passed $ 36 again.
week return was 2.9 percent, while the return so far this year is 7.2 percent. From the bottom 11 February the exchange has risen 10.3 percent.
The turnover ended at relatively modest 3.8 billion, probably because many investors enjoying winter.
oil prices in the swing again
Brent April oil is up 2.2 percent to $ 36.48, compared to around $ 34 as stock market closed yesterday. The price is above one dollar higher than when the exchange opened.
WTI oil rising 1.7 percent to $ 33.64 a barrel.
Oil prices got a boost when Reuters yesterday quoted Russia Energy Minister Alexander Novak that oil ministers from OPEC and “non-OPEC” plan to meet in mid-March.
Novak also said that he is likely to face Iran’s oil minister during the next month.
Norwegian oil Trading and Commerzbank believes oil prices continued up on news that several shale oil producers in the United States will reduce its investments further in 2016, according to TDN Finans.
Statoil gained 3.9 percent to 124.30 kroner.
Oljeservice showed the way
Seadrill ended up 1.3 percent to 15.60 kroner. DN writes that the company has plan ready for how to fight the debt is handled.
Citigroup halved Friday price target to 10 million. Buy recommendation maintained.
According to Reuters believes brokerage fourth quarter figures were in line with expectations. They also see and small changes in the outlook, but remains the focus of Seadrill’s finances and the company announced advertising around refinancing in the first half of 2016.
Subsea 7 jumped up 9.5 percent to 55.30 kroner after country fight contract with BP outside Egypt.
Seismic Rally
PGS distinguished himself by rise as much as 14 percent to 20.32 kroner. Competitor TGS contented himself with a rise of 6.5 percent.
Polarcus jumped 26.1 percent to 1.10 million, after reporting on a number of new contracts.
The earnings season is in its final stage. All current figures here.
Sveaas-line to the bottom
At the other end we find Bulk Invest (formerly Western Bulk), which was punished with a price drop 43.2 percent to 21 cents. Those who bought the stock at 10 cents right after the opening more than doubled however their money.
Dn.no reported Thursday that six Japanese shipowners believe Western Bulk main shareholder Christen Sveaas bought the profitable subsidiary Western Bulk Chartering for the price. They require reversal of the acquisition and arrest of the shares.
The background is a press release from the attorney Kristian Lindhardtsen in Kyllingstad Kleiveland sent out yesterday.
– The trade deteriorated parent company liquidity and increase the risk of bankruptcy in Western Bulk, wrote the lawyer according to online newspaper.
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