In the wake of the rise on Wall Street Friday and the stock exchange jumped in large parts of Asia on Monday morning, opening the Oslo Stock Exchange up.
After 20 minutes of trading is the main index of 534.84, up 2.40 percent, and it is so far sold shares for 494 million.
oil prices
Prices for oil contracts falling Monday morning, having risen by more than three US dollars per barrel Friday.
Brent oil falls Monday 0.57 percent to $ 33.17 a barrel, while WTI oil is down 0.99 percent to $ 29.15 a barrel.
In comparison, a barrel of North Sea oil traded $ 31.42 a barrel at the close of trading Friday.
Prices have therefore risen markedly during the weekend. The upturn came, according to The Wall Street Journal and TDN Finans Friday night, following speculation that the world’s largest oil exporters will be able to cut production.
Despite the rise fell North Sea oil 2.1 percent the week as a whole, and is weakened by almost 11 percent since the beginning of the year.
on Thursday night announced the Minister of energy of the United Arab Emirates that members of Opec is “ready to cooperate” assuming “total cooperation with all other” outside the oil cartel.
– Every time someone stands up and says ‘we are willing to cooperate’, comes an instinctive reaction in the market to buy. Prices have fallen so much that people do not want to end up selling at the bottom, says broker Liquidity Energy in New York, Peter Donovan, said.
Michael Tran, commodity strategist at RBC Capital Markets, says according to TDN Finans that there will be a lot of noise in the market over the coming months, but that he did not envisage any major changes in the short term.
-A Opec cut is still hard to imagine, but this week we saw a rumblings about a Opec “freezing” and we find this easier to imagine, said Olivier Jakob at consultancy firm Petro Matrix.
He believes a freezing of Opec production will reduce supply in the market, but may contribute to a mood boost, since it brings Opec supply-side management into the math again.
Statoil climbs 2.36 percent to 116.90 kroner. DNO is up 4.16 percent, while the Norwegian oil company climbs 0.76 percent.
Tung keepers
Otherwise, among the most traded shares, only good mood Monday morning. DNB climbs 4.21 percent and the current date most traded, while RCL and Telenor are up respectively 1.89 and 2.94 percent.
Yara rising 2.28 percent, Marine Harvest is up 1.65 percent and Norwegian Hydro climbs 2.37 percent. Orkla is up 3.69 percent and Frontline rises entire 5.60 percent.
Earnings Season
The earnings season continues and Petroleum Geo-Services is one of the companies that have presented fourth quarter results Monday morning .
Oil services company delivered as expected bright red numbers. The promises, however, guidance for operating investments in 2016 from 240 million to 250 million crowns, and also report that they have booked into around 100 percent of the 3D fleet capacity for the first quarter of 2016.
The share rises entire 7.22 percent to 22.80 crowns.
Selvaag Bolig has however delivered solid 4Q, despite the fact that they were weaker than in the same period last year.
in addition, reports Board Selvaag that they now propose a dividend for the second half of 2015 of NOK 0.80 per share. For the year will yield be NOK 1.50 per share, compared with NOK 1.20 per share in 2014.
The share rising 2.86 percent to 25.20 crowns.
Buyer of Brazil
Hexagon Composites has now agreed to buy 67 percent of a Brazilian company that supplies fuel assemblies for buses and heavy trucks.
the remaining 33 percent of the company will be owned by Tony Bermudo and the initial purchase price is a million dollars. Hexagon will eventually increase its ownership to one hundred percent for an earn-out model.
The share rising 3.65 percent to 19.90 crowns.
Clear Voice
Bulk Invest (formerly Western Bulk, ed.’s note.) has now sent a written inquiry to its largest creditors hoping to initiate a dialogue about possible solutions to the company’s challenging economic situation.
the company reports that in the absence of an acceptable solution for the company, the basis for the company’s future operations will be reconsidered.
the share fall 15.00 percent to 0.34 million.
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