The main index on the Oslo Stock Exchange ended at 576.36 Thursday after rising by 0.92 percent.
Shares and equity certificates traded 4.199 million.
Wall Street falls after disappointing job numbers, weaker-than-expected new orders for industry and PMI figures which, according to chief economist signaling stagnation in the United States.
waiting anxiously on new figures from the US
Leading European exchanges also red.
British FTSE 100 fell 0.4 percent, while the German DAX and French CAC 40 both ended down 0.4 percent.
the tension is related to today’s ISM report from the services sector in the United States, and especially employment component ahead of tomorrow’s key employment report (non-farm payrolls).
A solid report could jack up expectations that the Federal Reserve is on schedule for rate hikes later this year.
the consensus is according to MarketWatch on 198,000 new jobs were created outside the agricultural sector in February. It would then be up from 151,000 in January.
The unemployment rate is expected unchanged at 4.9 percent.
– Oil prices have under $ 25
Oil Prices is on the defensive Thursday afternoon.
Brent oil falling 1.2 percent to $ 36.48 a barrel, while it stood at around $ 36.60 a barrel when the Oslo stock Exchange closed yesterday.
WTI oil is down 0.9 percent to $ 34.36 a barrel.
Data from the US energy Agency showed yesterday that US oil production fell for the sixth week in a row. 9.08 million barrels is the lowest level since November 2014.
Meanwhile, rose oil inventories in the US continue throughout the week until February 26, so that they remain at peak levels for the last 80 years.
Commodity Strategist Abhishek Deshpande Natixis do not think that freezing of production is the solution.
– prices must fall again and reach a bottom in a way really closes down production. It is the only way that can really turn the prices for good and provide sustained upturn … once this happens we will see a true turning point, and for me this kind of bottom remains below 25 dollars, says he told Reuters.
Chief strategist for CMC markets in Sydney, Michael McCarthy, it seems most remarkable is the extent to which the market has calmed down.
– the fall in volatility, reduction in daily price fluctuations, it suggests that we are within a more stable climate. It is difficult to envisage any strong price rise from here, with so many barrels on the plus side, he said to Bloomberg.
Nigerian Oil Minister Emmanuel Kachikwu disclosed to news agency on Thursday that OPEC and non-OPEC countries are planning a meeting Russia March 20.
– Both Saudi Arabia and Russia, all going back to the negotiating table, he said, adding that he expects “dramatic oil price movements” after the meeting.
oil and oil paved the way
On the Oslo stock Exchange rose Statoil 1.8 percent to 130.80 kroner.
Otherwise the oil pulled DNO up 1.9 percent to 6, 67 million, while the Norwegian climbed 1.5 percent to 60 million in the wake of yesterday’s Noreco deal. Financial newspaper writes that Kjell Inge Røkke-controlled oil company had paid to acquire Noreco’s cash reserves and exploration licenses on the Norwegian shelf.
– The agreement reflects at least that it is a demanding market. Whether it’s the bottom, I do not know, says the Norwegian boss Karl Johnny Hersvik said.
In the oil marked PGS particularly positive, and rose all 12.6 percent to 23 million without company-specific news. Seadrill gained 11.0 percent to 21.03 crowns.
Collaborative opinions on Subsea 7
Subsea 7 corrected up 5.3 percent to 57.10 kroner after yesterday peelings in wake of the interim report.
Brokerages are Reuters split in their opinions. Natixis cuts price target from 59 to 50 million, and reiterates its reduce the sonar recommendation.
SocGen, however, retain their buy recommendation and raises the price target from 103 to 112 million. Exane BNP Paribas lifts price target of eight percent to 70 million, and reiterates its Outperform recommendation. The brokerage believes according to news agency that yesterday kursrs was undeserved.
Arctic Securities analyst Tord Aasen Augestad is still negative for the stock.
– At least four boats going out in Brazil. I do not think is priced in, said analyst TDN Finans yesterday.
Marine Harvest further down
Among other positive heavyweights we note Norwegian, which eased 5.1 percent to 298 kroner. DNB Markets eyes in an update 30 percent upside in the stock ahead of tomorrow’s traffic figures for February.
We also take that Telenor advanced 3.2 percent to 134.50 kroner, after Swedbank has upgraded its recommendation from “buy” to “strong buy.”
On the negative side we find Marine Harvest, which continued down 1.9 percent to 116.30 kroner after John Fredriksen yesterday lowered the stock marked with a sell his close aide Harald Thorstein opposite DN characterizes as a rebalancing of Fredriksen group’s equity portfolio.
today announced Marine Harvest of algae blooms in Chilean region X have almost wiped out the company’s salmon. The breeder reported that they expect the remaining 200,000 salmon also will be lost as a result of algal situation.
RCCL and Norwegian Hydro fell respectively. 2.0 percent to 636 kroner and 1.5 percent to 34.10 million, the latter after Bernstein told Reuters have made coverage of the stock with sell recommendation and price target 29.10 crowns.
Took off after insider purchases
in the top of the winners’ rose only Bergen Group are mentioned PGS, after the top boss has bought shares in the company.
the increase was 29.0 percent to 1.29 million.
Another six stocks rose double digits.
Seadrill has already been mentioned, and in addition went Apptix, Awilco LNG, BW Offshore, Polarcus and Oslo Axess-listed Hofseth Biocare in plus by 10-11 , 4 percent.
Earlier Skagen top Kristian Falnes betrays facing financial newspaper that he has taken three percent of Polarcus.
We also take that Biotec Pharmacon rose 4.0 percent to 11 , 85 million after receiving a so-called “Notice of Allowance” for their Woulgan Gel in the United States.
Lose The list is topped by Vardia Insurance Group, which went back 12.5 percent to 77 cents after the insider Rune Olsen Arneberg has sold several hundred thousand shares in the company.
Almost followed Oslo Axess -noterte Serodus, which fell 8.9 percent to 2.35 million.
Scana Industrier, where Alexander Hansson bought up sharply in recent days, fell 8.3 percent to 1.78 million.
finally, we mention that bankruptcy threatened Havila Shipping is down 6.1 percent to 1.85 million.
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