The main index of the Oslo Stock Exchange rose 1.60 percent to 620.06 points Monday. It was traded securities for 2.96 billion.
There was generally good mood on the European stock exchanges. Shortly before closing time on the Oslo Stock Exchange was Dax index up 1.59 percent, FTSE100 had climbed 1.16 percent while the CAC40 1.45 was up percent.
Oil and Statoil
Oil prices which weighed Statoil, and thus also the Oslo Stock Exchange, a large part of the morning went on throughout the afternoon.
The price of a barrel of burning oil was up to $ 47.12 half an hour before closing on the Oslo stock Exchange, but fell back. When closing auction started, oil prices were $ 46.53, down 0.49 percent intraday, and about 15 cents above the price at the opening.
Statoil ended up 1.30 percent to 148 kroner. The company that has completed the sale of its operations in the Marcellus shale gas in the US state of West Virginia, also got upgraded price target of Jeffries Monday from 90 to 95 million. The brokerage maintained its “underperform”-rating.
According to Reuters, they write in the analysis that the fundamentals of the oil market remains positive as regards further price increases, and that global inventories will start to fall in the third quarter.
in the short term waiting however Jefferies that “Brexit” with subsequent risk aversion and dollar strengthening to have significant adverse effects on oil prices.
Among other oil-related stocks rose Subsea 7 4.5 percent, TGS was up 3.26 percent while Aker Solutions ended up 2.5 percent. DNO and The Norwegian oil company ended up respectively. 1.29 and 0.10 percent.
Stock Barça games
With an increase of frenetic 106.70 percent to 3.70 million was Hugo Games current sovereign winner.
The company has signed a contract with FC Barcelona to create a mobile game where Barça fans can assemble and manage their own dream team.
Results of subsidiaries
Telenor’s subsidiary in Malaysia, Digi, reported 3.41 billion in Q2 2016. This is a decline from 3.65 billion in Q2 2015. During the same period, operating profit fell from 1.34 billion to 1.25 billion.
Number subscriptions rose by 11,000 to 12.447 million in the quarter.
-We note that a 10 percent growth in post-paid subscribers and increased smartphone penetration provides a higher ebitda margin than we and consensus had waited in the figures, while continued pressure on disposable income among Malaysian consumers as well as price pressure characterize the top line to Digi in the second quarter, says analyst Fredrik Thoresen SEB to TDN Finans.
With a decline of 0.21 percent to 142.20 million was Telenor share alone among today’s 15 most traded fell.
Green light gave tills ringing
Statoil shall have approved the third key deliverable in the Badger “Milestone 1″ program.
The approval triggered a payment of 2.5 million from Statoil.
Badger shares rose 9.30 percent to 2.35 million after a very volatile trading day where the highest quotation was 2.95 million and the lowest was 2.08 million.
Air under wings
Boeing informs according to TDN Finans that the first Boeing 737 Max aircraft to Norwegian to be delivered in May 2017. the Norwegian’s first quarter presentation informed the company that it will get six 737 Max aircraft during 2017.
READ aLSO: Should Norwegian in 130 or 450 million?
Norwegian Air Shuttle have also signed an agreement for Gold Care service package for Boeing 737 MAX fleet, and an expanded service package for the entire 787 Dreamliner fleet. According to TDN Finans’s service agreement with Norwegian the largest service order in Boeing’s history.
The share flew up 2.57 percent to 307.70 kroner.
Contract
TTS Group has signed a new contract for the delivery of cargo access equipment for four RoPax vessels under construction at a Chinese shipyard.
The total order value will be 40 million.
the stock fell 0.38 percent to 5.28 million.
Recommendation
Subsea 7 rose 4.53 percent to 84.30 crowns.
The rise came after Macquarie upgraded the recommendation on Subsea 7′s stock to “Outperform “from the previous” neutral “due to their belief that the risks associated with the company PLSVer is factored in.
Results Season
Alcoa begins earnings season in the US on Monday night. Expectations sent Norwegian Hydro up 4.21 percent to 32.19 crowns.
No Norwegian companies released figures Monday, but DNB and Hafslund submits quarterly reports Tuesday. The companies rose respectively. 2.37 and 1.39 percent in anticipation of the numbers.
Read also: More recommended DNB share
UBS cut Monday price target on the former to 108 million from 110 million, but reiterates Reuters buy recommendation ahead of bank quarterly report.
Broker giant believes that Nordic banks remind investors of their relatively predictable earnings, despite much volatility in the market in the wake of Britain’s EU referendum in June.
UBS writes DNB is the bank best positioned to increase payout ratio this year.
the consensus in an informal survey conducted by Reuters ahead of the gold standard that is released at 7 Tuesday is a profit before tax of 6.19 billion respectively.
Here are results calendar for the Norwegian companies this week.
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