One share achieved alone for the Oslo Stock Exchange fell Tuesday. The main index ended down 0.5 percent (2.77 points) to 617.29.
The culprit is DNB, which according to data from Thomson Reuters alone accounted for over 5 points of the fall after having knocked down almost eight percent.
Without DNB would exchange has sniffed season best-listing at 624.41.
We note that the uS exchanges reached an all time high Monday night. In opening trade, it set new records.
Crude rises
Oil prices reeling from a weak Monday night. Brent oil traded for $ 47.60, up 3.0 percent. There are over half a dollar higher than when the stock market closed yesterday. The US light crude is up 2.4 percent to $ 45.85 a barrel.
Statoil ended up 0.7 percent to 149.10 million
DNB ras
DNB reported slower top and bottom line than expected.
the Group’s profit for the second quarter of 2016 was 4.569 million. This is a decrease of 512 million compared with the second quarter of 2015.
Before tax profit was 5.311 million, against expected 6.613 million. Same period last year profit was 6.800 million.
Several brokerages believe DNB has put forward a weaker quarterly than driven by weak interest income, type TDN Finans.
Among these is Jan W. Wolter, chief analyst for European banks in Credit Suisse.
He said the interim DNB was consistently weaker than consensus expectations, and that he sees risk further downgrades.
the share plunged 7.6 percent to 94 crowns in very heavy trading; 1.6 billion. By comparison, the total turnover on the exchange at 4.0 billion.
Where every penny stock drops, reducing the market value of 1.63 billion. During Tuesday was DNB thus 12.6 billion worth less.
Since the new year, DNB has fallen 11 percent, while the downturn in the past year is 26 percent.
DNB has developed a large head and shoulder formation. The share could fall to 65 million. Read the entire technical analysis here.
Opera-ras
Opera Software says that Kunqi is uncertain whether one of the conditions relating to the acquisition offer, for government approval will be fulfilled within the deadline, which is July 15, based on information available as of today, states a press release of the company.
Asked by TDN Finans about what stands in the way, responding Communication Director Karin Greve Isdahl Opera on email: “We are working with the consortium to implement a transaction.”
she would not comment on whether it has been talked about a possible cancellation of the purchase, or what they “alternative possibilities” mentioned in today’s notification is. Several analysts point out that it is the US CFIUS approval slows the process.
Opera shares ended down 10 percent to 60.75 crowns.
Hydro on Alcoa -figures
Alcoa kicked Monday night started earnings season on Wall Street with its figures for the second quarter of 2016.
Aluminium giant delivered revenues of $ 5.3 billion and a profit at $ 0.15 per share, according to CNBC. It was expected EPS of $ 0.09.
Konkurrensen Norwegian Hydro ended up 1.7 percent to 32.74 million
More than half of Spectrum
Spectrum reports that they are expecting net income of about $ 14 million in Q2 2016. the company had net income of $ 35 million in Q2 2015.
Adm. Director Rune Eng attribute this that some negotiation processes have pulled out, and that early sales were reduced.
The stock ended down 2.4 percent to 26 million.
BW Offshore
BW Offshore has plunged 65 percent so far this year, but Tuesday was a big bright spot for shareholders with a rise of 23.5 percent to 21 cents. Turnover in the stock was 4.6 million.
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