Oslo Stock Exchange opened right down Monday morning, but now moves slightly upward. The reason for the decline is sharp drop in oil prices, after Sunday’s attempt to pull off an oil deal stranded.
In just over 20 minutes’ trade is the main index of 578.27, down 1.10 percent, and it is hitherto traded shares for 513 million.
Oil prices
Brent oil falls Monday 4.90 percent to $ 40.99 a barrel, while WTI oil is down 5.08 percent to $ 39.59 a barrel.
in comparison, a barrel of North Sea oil traded at $ 42.40 a barrel at the close of trading Friday.
the fall is the largest of two months and came after Sunday’s meeting between a number of major oil producers in Doha, Qatar, ended without any agreement to freeze oil production.
– This weekend’s negotiations are a demonstration of that Saudi Arabia, Deputy Crown Prince Salman has clearly stated, not wanting to give up market share, says head of commodities analysis at Citigroup, Ed Morse, to Bloomberg News, according to TDN Finans.
He believes the Saudis fear that the world will be able to remain in a weak or bearish market for a longer period .
– in a bear market, which they experienced in the 1980s, they will have difficulty regaining market share they have given up, says Morse.
Russia Energy Minister Alexander Novak expressed according to news agency surprise that there was any agreement.
the leaders of Saudi Arabia, Qatar, Venezuela and Russia, who in February launched the work for the freezing of oil production, agreed on a draft agreement Saturday. Some countries changed according to Novak, however, his opinion just before the summit the following day, which led to “hot discussions”.
Novak stated according to TDN Finans at a press conference after the meeting that “the door is not closed” for a future deal but that “Russia will not be as optimistic as before.”
Qatar’s energy minister said OPEC members will hold consultations among themselves and with other manufacturers before OPEC holds its next ministerial meeting on 2 June.
– the fact that Saudi Arabia appears to have blocked the deal, is an indication of how much the country’s oil policy is driven by the ongoing geopolitical conflict with Iran, says Jason Bordoff, former employee of the white house and director of the Center on Global Energy Policy at Columbia University, to Bloomberg News, according to TDN Finans.
Statoil falling 3.75 percent to 127.80 kroner.
1. quarter
John Fredriksen, Marine Harvest has now presented the first figures for Q1. They show an operational EBIT of approximately EUR 110 million in Q1 2016, up from 95 million euros in the same period last year.
Marine Harvest also reports that the total harvest volume in the period totaled 97,000 tonnes, up from previously guided 93.000 tonnes.
Please note that Periscopus by Trygve OBI owns four million shares, representing a stake of 0.9 percent in Marine Harvest.
the share rise 2.39 percent to 132.70 kroner.
preliminary yes
at the weekend it was announced that Norwegian’s Irish subsidiary has received a preliminary approval from the US Department of transportation to engage in air travel to the United States.
the company Norwegian Air International has waited two years to get this approval.
the share climbs Monday morning 2.08 percent to 363.80 kroner.
launches new drive
Nel-daughter H2 Logic launches Monday H2Station CAR-200, with the filling station triples fuel capacity.
– The new H2Station CAR-200 is the result of more than three years of continuous development of new and patented technologies. The new filling station has three times the capacity of previous generation products and are considerably smaller with only a third of the footprint, soer H2 Logic CEO Jacob Krogsgaard, in a comment.
The stock is up 5.88 percent to 3 , 42 million.
study
Nordic Nano Vector has now published results from its ongoing phase 1/2 study Betalutin for patients with non-Hodgkin lymphoma (NHL) with setbacks, which continues to show promising efficacy and increasing the duration of response.
the results show that betalutin was generally well tolerated. The overall response rate (ORR) was 63.2 percent, including 31.6 percent complete response in 21 patients.
The share climb 3.98 percent to 26.10 crowns.
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