The main index on the Oslo Stock Exchange ended up 0.48 percent to 590.13 points Wednesday. It was traded securities of 3.3 billion.
Also, European markets ticking up, While Dax index and FTSE100 were up 1.2 and 1.3 percent at off-exchange, the increase was in Paris at less than 1.6 percent at the same time.
Wednesday the focus was directed towards today’s monetary policy meeting of the Federal Reserve, where it is now considered unlikely that Janet Yellen & amp; Co. will raise interest rates. In recent days Brexit-fear has come more into the background.
Sectors that have burdened indexes in Europe most recent days, finance and telecoms, rising markedly. The Oslo Stock Exchange drew Telenor and DnB up, respectively 1.34 and 0.50 percent.
Statoil ended unchanged at 133.10 kroner.
Oil prices fall
Oil prices fall for fifth straight day after US inventory numbers.
Another factor that sends prices down is that rebel forces in Nigeria who have attacked oil facilities, considering peace talks.
At the end of trading Wednesday was Brent oil traded at $ 48.92 a barrel, down 1.8 percent. Last week, the price reached $ 52.86 season best.
In comparison, a barrel of North Sea oil traded at $ 49.84 at the close of trading on Tuesday.
Consumer Council plaintiff DNB
DNB’s rally was somewhat dampened by the Consumer Council announced lawsuit against the bank.
the Consumer Council believes 150,000 Norwegians have paid NOK 690 million too much in fees to DNB. The bank has sold and marketed three equity funds that are actively managed funds. Calculations made by the Financial Supervisory Authority and the Norwegian School indicates that funds are passively managed.
DNB ended up 0.5 percent to 100 kroner.
Warns rig
13 of 14 companies in the rig sector Nordea Markets coverage will sell recommendation.
In an update Wednesday recommends Nordea Markets to stay away from the rig sector. Analysts Janne kvernland and Kristoffer Pedersen of Nordea Markets shows according to TDN Finans to challenges rig sector has experienced in light of falling oil prices and customers’ capital discipline.
Odfjell has a price target of 12 million is the only rig company kvernland and Pedersen puts buy recommendation on. This stock rose 3.07 percent Wednesday to 4.70 million.
Songa excellent negatively in the sector, with a fall of 4.55 percent to 0.21 million.
Warns seismic
DNB Markets reiterated Wednesday a sales recommendation on both Polarcus, TGS and PGS with price target of respectively 0.5 million, 20 million and 100 million.
The brokerage writes Reuters that it looks increasing risks associated with consensus expectations for 2017.
– It is admittedly early to conclude entirely in terms of demand situation for next year, but market expectations of revenue growth in the sector is around 12 percent and it does not seem to have coverage in the signals coming from some of the potential customers, according to the analysis.
DNB Markets points out that Shell has guided that they will reduce investment, while players like Woodside and BHP has guided unchanged exploration budgets, but with a higher allocation towards exploration and ditto lower within seismology.
– These three companies have in recent years accounted for about 16 percent of the contract work in seismic companies, writes DNB Markets.
PGS fell 4.13 percent to 21.83 crowns, TGS ended down 3.14 percent to 120.40 kroner.
Polarcus got agreement
Polarcus Limited announces an agreement with an unnamed customer in connection with broadband 3D marine seismic surveys outside South America.
The news lifted shares 1.89 percent to 0.54 million.
Prosafe knocked down
Prosafe is working on a restructuring plan to ensure the operation out 2020 SEB analyst Øystein Bogfjellmo says to E24 that the solution might be one of the most painful so far in decline cycle.
The brokerage changes to the recommendation Prosafe from “buy” to “unrated” writes the site. This means that the analyst believes the stock is little or nothing worth.
The stock fell 17.10 percent to 1.60 million in the wake of SEB analysis.
DNO
The local Kurdish authorities in northern Iraq (KRG) is ready to conclude an agreement with the central government in Baghdad on an agreement that will increase oil exports from the region. According to Reuters the premise that Baghdad guarantees them monthly income of one billion dollars, said a spokesman for the KRG.
He said the companies operating in the region have received assurances that certain amount of money will be paid out on a monthly basis. He refers to companies like DNO, Gulf Keysone and Genel, Reuters reported.
DNO rose 0.27 percent to 9.24 million.
Hexagon fusion
Hexagon and Agility Fuel Systems announced Tuesday night that the companies will merge Hexagon Composites CNG Automotive Products-division of Agility. The merged company will be named Agility Fuel Solutions.
Hexagon rose 11.11 percent to 25 million.
Navamedic`s Patent
Navamedic`s announces a new Swedish patent .
the share ended up 6.30 percent to 10.30 crowns.
Yara down on downgrade
Bank of America Merrill Lynch downgraded the recommendation on Yara from neutral to underperform, reports Bloomberg according to TDN Finans.
Deutsche Bank gjentor Reuters hold recommendation on Yara, and cut while the price target to 320 million from the previous 340 million.
The brokerage expects Nitrogen prices will remain weak in 2016 due to increased production from different regions .
Yara fell 1.67 percent to 271.60 million
SAS strike called off
SAS pilots’ strike ended after the close of trading Tuesday. Parties to the conflict have agreed, but traffic is expected to go back to normal first Thursday.
Since Friday be 100,000 travelers have been affected by the strike, which has led to around 1,000 preset flights.
SAS share opened up more than four percent, but fell back during the day and ended unchanged at 18.90 crowns.
Veidekke to build wind farm
Veidekke has signed a contract with Norwegian Wind Egersund AS to build Egersund Vindpark in Rogaland.
The contract is worth NOK 190 million excl. VAT. Veidekke rose 0.49 percent to 102.50
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