Oslo Stock Exchange opens up Thursday morning.
After 20 minutes of trading is the main index of 552.09, up 1.24 percent, and it is so far sold shares for 383 million.
Oil prices
Brent oil falls Thursday 1.51 percent to $ 33.89 a barrel, while WTI oil is down 1.31 percent to $ 31.73 a barrel.
for comparison, a barrel of North Sea oil traded at $ 32.73 a barrel at the close of trading on Wednesday.
oil prices rose significantly on Wednesday night, after ukestatistikk from the US energy information Agency (EIA) showed that the country’s oil stocks rose 3.5 million barrels , which was slightly above expectations among analysts. Inventories of gasoline and other refined products were reduced.
Analysts told The Wall Street Journal that prices may have risen after the EIA figures were published, because growth in oil stocks was expected, according to TDN Finans.
– There may be further stock growth over the coming weeks, said Director of Tyche Capital Advisors Tariq Zahir, told the newspaper.
He assumes that oil traders have bet on lower prices before the figures were published, and that these have adjusted their positions immediately, so prices were pushed up.
prices for gasoline contracts rose according to news agency as EIA figures showed an unexpectedly large drop in gasoline stocks during the last week. Also stockpiles of distillate products, such as diesel and heating oil, fell somewhat.
– With Saudi Arabia’s reluctance to cut production, and Iran’s refusal to freeze production, the oil market will be in limbo in the short term, says Carsten Menke, an analyst at Julius Baer.
Some market observers believe that a freezing of oil production could support the prices.
– A meeting to limit production will lay the groundwork that a production cut may eventually come. A price of $ 30 per barrel is now a floor, writes market economist Peter Cardillo of First Standard Financial in a client note, according to TDN Finans.
Statoil rises 2.07 percent to 118.50 kroner.
Profit Rush
despite the winter in large parts of the country, characterized Thursday that a whole host of companies have presented their quarterly results. Here you can see all the numbers.
One of them is John Fredriksen’s Seadrill rig company, which was left with more on the bottom line than analysts had previously predicted. Also top line was roughly in line with expectations. The share will be rewarded with a rise of 6.78 percent to 15.11 crowns.
Both Sevan Drilling and Siem Offshore goes however on billion slams. It sends Sevan Drilling down 4.76 percent to 2.00 million, while Siem Offshore preliminary unchanged.
Wentworth Resources was left with $ 33 million to the bottom line in Q4, which is significantly higher than earlier. The stock, however, falls 6.51 percent to 3.88 million.
North Energy delivered another red block, which sends stock down 6.78 percent to 1.10 million.
Tung keepers
Among the most traded shares on the Oslo stock Exchange is the only upswing Thursday morning.
DNB climbs 0.37 percent, Telenor is up 1.75 percent, while the Norwegian Hydro rises 2 , 06 percent. Marine Harvest is up 0.96 percent.
Orkla, Yara and Subsea 7 rises respectively 0.49, 0.55 and 1.72 percent.
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