Oslo Stock Exchange fell as expected from the start Friday and has since remained in the same territory. At lunchtime falls main index 0.91 percent to 602.59.
The major exchanges in Europe is mixed, with the DAX up 0.77 per cent, CAC 40 up 0.52 percent and the FTSE 100 down 0.12 percent.
Brent is up 0.32 percent to 46.55 after Thursday’s fall of 4.90 percent to $ 46.40. Light oil is up 0.40 percent to $ 45.32. It is at the lowest levels for oil prices in two months.
Statoil falling 3.91 percent to 142.60.
Oil-related stocks thundered down, with Prosafe spearheaded. The shares plunging 43.18 percent to 50 cents after coming with several announcements about the refinancing of the company after the stock market closed Thursday.
Prosafe will include issuing new shares for between 130 and 150 million US dollars , equivalent to 1.1 and 1.3 billion, at a price of 25 cents. In addition, also bonds of 2.4 billion converted to share capital at 30 percent of face value.
In addition, it is planned a subsequent offering of up to $ 15 million at the same price of 0.25 kroner .
Prosafe has also reached agreement with the bank compounds their to reduce payments for a period of four years and to delay delivery of the newbuild Safe Eurus to the fourth quarter of 2019 from Cosco shipyard.
The company also stated that the refinancing will result in a significant dilution of existing shareholders who do not participate in the new share issue, but that it still needed given the challenging financial situation and difficult market conditions. If refinancing plan, which already has the support of major shareholders, goes through, it will give Prosafe greater financial flexibility out in 2020, writes Reuters.
Havyard falling 1.04 percent to 7.62 million and Seadrill is down 5.13 percent to 26.09 kroner. PGS is the new 0.94 percent to 17.83 crowns.
Other news affecting
BW Offshore stating that CNR International SARL has extended the contract on Espoir Ivoirien from 2017 to 2022. the share is the winner on Friday morning with a rise of 11.76 per cent to 19 cents.
Ocean Yield rising 0.78 percent to 65 crowns after DNB has upgraded stock from hold to buy, with price target of 68 million according to TDN Finans.
Protector has presented strong figures for Q2. The company maintains its guidance for 2016, with the expected premium growth of 22 percent and with an expense ratio lower than 7.5 percent, according to the stock exchange notice. Stock drops still 5.25 percent to 72.25 crowns.
Link Mobility announced that its subsidiary Link Mobility AB acquires Global Mouth Marketing AB and will be the strengthening of its position from the current market share in the Swedish market at 25 percent. The stock was last traded unchanged at 90 million.
KID has put forward figures for Q2 2016 which showed revenues of 265.5 million crowns, up 8.9 percent. The stock is up 5.77 percent to 27.50 crowns.
Targovax (TRVX) listed on the Oslo Stock Exchange. The stock traded flat at 8 million.
BWLPG have come with a fleet update with estimates for Q2 2016. The share falling 1.75 percent to 28 million.
NRC Group Announces a contract with Elektrobyggnda AB in Sweden at 49 million. The stock is flat at 51.50 crowns.
Chairman Lars Christian Beitnes Intex Resources has acquired 120,000 CFDs in the company at an average price of 0.37 kroner. Following the transaction Beitnes 470,000 CFDs and zero shares of Intex. The stock is currently down 2.63 percent to 37 cents.
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