Oslo Stock Exchange fell as expected from the start, and has continued in the same direction throughout the day.
The main index ended down 0.92 percent to 611.63.
Oil prices
Wednesday at close of trading traded Brent oil for $ 48.95 a barrel, down 1.88 percent, while WTI oil falling 2.20 percent to $ 48.02 a barrel.
In comparison, a barrel of North Sea oil traded at $ 50.47 at the close of trading on Tuesday.
the reason for today’s falling prices are expectations of higher exports from the Middle East, coupled with fears of lower demand from China .
analysts expect according to CNBC that the members of OPEC will continue its focus on maintaining market share, rather than cutting production at a meeting Thursday.
– nobody believes in manufacturing freezer or limitations in production. There are no expectations of a price boost, says commodity strategist Bjarne Schieldrop at SEB’s Oslo office to CNBC.
Statoil was today down 1.72 percent to 131.10 kroner.
DNO gets tawke payout
DNO ASA announces that it has received $ 16.3 million from the Kurdistan Regional Government (KRG) that payout number two for oil exports from tawke in April.
last week the company received 16.0 million dollars.
DNO ended down 3.48 percent to 8.45 million.
Prosafe
Prosafe SE announces that the company is in constructive discussions with key stakeholders with a view to improve its financial situation.
The solution included new capital, loan postponements and conversion of debt.
It guides the expectation EBITDA of 170-220 million in 2016 and 110-140 million in 2017.
Prosafe eventually fell 3.63 percent to 2.92 million.
Weak oil stocks
Seadrill, which were among the 10 weakest shares on the Oslo stock Exchange in May, was Wednesday the new 7.48 percent to 25.73 crowns.
Songa Offshore stood at the end of minus 6.25 percent to 30 cents, while Polarcus fell 12, 86 percent of today’s third largest loser.
TGS and PGS were down respectively. 2.86 percent and 7.24 percent.
Frontline further up
John Fredriksen’s tanker company Frontline did sharply Tuesday after having released figures.
on Wednesday the stock up new 1.26 percent to 72.15 crowns.
GIG-update
Gaming Innovation Group (GIG) reports that the total number of active players during the period from March to May was 83,288, compared with 88,876 in the period from February to april.
GIG ended down 8.29 percent to 3.76 million.
Norwegian Property sell Entra
Norwegian Property, where John Fredriksen’s Geveran Trading owns 48 percent, has reached an agreement to sell three properties at Skøyen Entra ASA.
the property value for the properties agreed to 2.529 million, which is NOK 142 million (5.9 percent) higher than the properties were valued at the end of Q1, 2016.
Norwegian property rose 1 , 62 percent to 9.40 million, while Entra was up 2.21 percent to 81 million.
insider dumps AKVA
Trond Severinsen, who is primary insider in AKVA group ASA, sold Tuesday 23,000 shares in the company at a price of 72.81 kroner per day.
New holding is 311 shares.
during Tuesday reached AKVA all time high 74 million. Wednesday the stock fell 2.07 percent to 71 million.
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