Oslo Stock Exchange opened down Wednesday morning, and has remained on the negative side through the morning.
At lunchtime’s main index in 584.42, down 0.30 per cent, and it is so far traded shares 1,477 million.
Oil prices
Brent oil rises on Wednesday at lunchtime with 1.72 percent to $ 40.33 a barrel, while WTI oil is up 1.40 percent to 37 01 dollars a barrel.
in comparison, a barrel of North Sea oil traded at $ 40.07 a barrel at closing on the Oslo stock Exchange on Tuesday.
the trade American Petroleum Institute (API) reported on Tuesday evening that inventories rose by 4.4 million barrels during the week until March 4.
the bearings are expected according to Bloomberg News and TDN Finans to have risen by 3.5 million barrels when the US energy information Agency (EIA) Wednesday afternoon reports the official weekly figures.
– There is still concern for production. There is surplus of oil in the market and uncertainty as to whether an agreement on the freezing of production will be achieved. There are still headwinds, and any price increase would be limited, said David Lennox, an analyst at Fat Prophets in Sydney, to Bloomberg News.
EIA wrote in its monthly report Tuesday night that oil production in the US is expected to fall to 8 19 million barrels per day in 2017, compared to 8.67 million this year, down from the previous estimate of 8.46 million for 2017.
at the same time pointed out that WTI price is expected to average 34 , $ 04 per barrel in 2016, down from last month’s estimate of $ 37.59. The average price for 2017 is expected to be $ 40.09 per barrel.
Statoil falling 0.68 percent to 132.20 kroner.
Continuing down
John Fredriksen equities Seadrill fell yesterday back 9.6 percent after two days of frenzied rally. Wednesday continuing recession, and the stock drops further 15.72 percent to 35.64 crowns.
The share topped Friday winners on the Oslo Stock Exchange with an increase of 21.2 per cent throughout. Monday climbed share further, and ended at 46.80 kroner after rising by incredible 60.33 percent.
Trygve OBI and analysts guest Tomas Middelthon said during Friday’s broadcast on HegnarTV that there probably is a short squeeze that is why Seadrill rising so violently.
– I think there are two things: oil prices have gone up quite a bit, from 30 to 37 dollars. Secondly today is that Noble has bet on buying back bonds in their own company, said analyst Johan Power Carnegie told Reuters Friday.
Other Fredriksen shares as Golden Ocean, Frontline and Archer also reacts down Wednesday. Shares fall respectively. 3.63 percent, 2.51 percent and 5.61 percent.
Tar grip
Birdstep Technologies reported Wednesday morning that it has signed a letter of intent to merge with a subsidiary of Middelborg AS .
In addition, the company signed an agreement to sell its subsidiary Birdstep Technology AB to Smith Micro Software, as well as cooperation agreements with Smith Micro and Teki Solutions.
The news sends shares up 24.14 percent to 0.36 million.
Faller marked
Atlantic Petroleum announces Wednesday morning that they have signed an agreement to sell its assets in Norway to M West Energy for one penny.
Oslo Børs introduced at lunchtime Tuesday matching halt in Atlantic Petroleum after rising throughout 295 percent. Nothing illegal, was apparently found, because the break was quickly revoked.
During the day fluctuated from 16 to 50.50 million – bought the bottom and sell at the top got you thus a return of extreme 216 percent.
Wednesday falls stock marked 45.18 percent to 12.50 million, and tops preliminary list of losers.
Buyer Netherlands
Gaming Innovation Group buys affiliate assets Delta Markets in the Netherlands for 4.2 million euros. 30 percent of the payment will be made in new shares.
The share rise 8.08 percent to 3.21 million.
Marine Harvest
Last week announced Marine Harvest the algae bloom has wiped out almost all their salmon in Chilean region X.
2.7 million of its 2.9 million salmon are dead.
Earlier, it emerged that Chile is stand to lose 20 million fish as a result of algal bloom in the region, equivalent to 85,000 tons of slaughtered Atlantic salmon.
But during the past week, the losses in the region increased by 5.7 percent to 89,900 tonnes of Atlantic salmon writes Undercurrent News according to TDN Finans, referring to Salmon Chile.
the mortality rate is 15 per cent of Chile’s salmon production, reports Salmon Chile. Total harvest volume in the country is now expected to 500,000 Atlantic salmon, revised down from 600,000 tonnes.
The share rise 1.97 percent to 119.30 kroner.
Please note that Periscopus by Trygve OBI owns four million shares, representing a stake of 0.9 percent in Marine Harvest.
Norwegian Forest
indebted Norwegian Forest has asked the owners two of their bond on a rescue plan.
But a creditor group in a third loan believes the plan favors the owners in the other two loans. With Citi in front group has delivered an interim measure currently being debated by a federal judge in New York, writes DN Wednesday.
And this morning has a stock exchange announcement came that the United States District Court, Southern District of New York has decided in favor of the Norwegian Forest, meaning that the temporary injunction is lifted.
Norwegian Forest would now go through the details of the decision with its legal advisors, and consider possible effects on the exchange offer.
the share falls at lunchtime with 7.25 per cent to 1.92 million.
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