The main index of the Oslo Stock Exchange fell today modest 0.04 percent before ending at 585.78 points. It was traded shares for four billion.
During the last month, the Oslo Stock Exchange put on 10.08 percent while the main index is down 4.01 percent so far this year.
Major companies such as DNB, Telenor and Yara fell respectively 0.97 percent, 1.83 percent and 1.64 percent while Hydro shareholders could enjoy an increase of 2.36 percent.
Norwegian Forest work hard to get to an arrangement with bondholders, and fell back further 5.43 percent to 1.74 million. Songa Offshore fell 9.38 percent to 0.29 million after being terrible blows down after the comprehensive financing package that was announced this week.
Petroleum / Statoil
A barrel of oil traded now for $ 41.12, up 1.96 percent. Oil prices get boost from less inventory building than expected in the US and Wednesday’s notification that a meeting between several OPEC and non-OPEC countries are set up in Doha, Qatar on 17 April, where production freeze the topic.
– This will be a follow-up meeting held between Qatar, Saudi Arabia, Russia and Venezuela, said Qatar’s oil Minister Mohammed Bin Saleh Al-Sada.
Thursday joined Statoil at 133.50 kroner after rising by 2.06 percent.
Norges Bank
Norges Bank has decided to cut its key rate by 0.25 percentage points to 0.50 percent. Decision was largely as expected. All analysts polled by Reuters were expecting a cut.
– Growth prospects for the Norwegian economy is somewhat weakened, and inflation is expected to subside gradually. The policy rate is therefore set down. As estimated by the prospect, the key rate will be reduced further during the year, says Governor Øystein Olsen in a statement.
Wall Street
Governor Janet Yellen and Federal Reserve kept expecting the policy rate unchanged when a two-day monetary policy meeting ended on Wednesday. Fed cut while prospects for further rate hikes this year, and now seeing two hikes opposed to four previously.
The latter move has helped to boost risk appetite in the market.
Noreco
High up on the winners we find Norwegian Energy company (Noreco) which climbed 12.07 percent to 52 million.
Chairman Riulf Rustad has through wholly owned company Ousdal aS purchased 127.770 Noreco shares at a price of 47 kroner. Rustad now controls 157,975 Noreco shares and has the right to purchase or subscribe for further 100,000 shares.
Axactor
Øystein Stray Spetalen dominated Axactor has signed an agreement to buy a portfolio from a Spanish financial institution. Outstanding balance is 221 million euros. Portfolio of over 25,000 open claims.
Axactor paying around 6.9 per cent of outstanding.
The share gained four percent and ended at 1.82 million.
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