Oslo Stock Exchange rises as expected from the start Wednesday despite the drop in the US on Tuesday night and broad fall in Asia this morning. After 20 minutes of trading, the main index up 0.5 percent to 600.36.
Crude at $ 50
The reason for the increase is that the oil price has risen by around two dollars since the close of trading Friday. The price of North Sea oil rises to the highest level since November 4, 2015. ISiste listing is $ 49.34, up 0.1 percent.
The US light crude traded for $ 49.15, up 0, 3 percent.
Reuters justifies the price increase with the risk of cuts in oil supply in June, partly as a result of fires in Canada that threatens oil sands production. See also the drop in oil exports from Nigeria. The market is looking at Venezuela, where the economic and political uncertainties threaten oil production.
Statoil
Statoil has signed a binding letter of intent to buy into two exploration licenses in Thrace region in the European, north-western part of Turkey.
Statoil rising 1.2 percent to 136.90 kroner.
Seadrill
Seadrill Limited has entered into an agreement with certain owners of a 2017 bond, which means that it issued 8,184,340 new shares for $ 55 million in principal amount of the loan.
Seadrill is up 3 , 9 percent to 31.74 crowns.
Storebrand
DNB Markets maintains a buy recommendation on Storebrand and has raised the price target from 42 to 45 crowns per share after capital Markets day Friday.
the stock is up 0.5 percent to 33.37 crowns.
GIG agreement
Gaming Innovation Group Inc. (GIG) has signed an agreement with Betita Operations Ltd. (Betita), a major player within the iGaming, to transfer all its casino and sports facilities to gigs iGamingCloud platform service (IGC), the company reported in a stock exchange announcement.
GIG is up 5.1 percent to 3.94 million.
REC rally
We also note that the REC is up 3.0 percent to 2.00 million.
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