The main index on the Oslo Stock Exchange ended at 612.63 Friday, after a decline of 0.49 percent.
Shares and equity certificates traded 3.122 million.
GDP disappointed big USA
in the United States opened the Wall Street down after today’s GDP figures disappointed big.
Earlier today surprised the bank of Japan by holding its key rate unchanged at minus 0.10 percent. Consensus was a cut of 10 basis points.
At the same time warned Bank of Japan an escalation of the annual ETF purchases (Exchange Traded Funds) from 3.3 to 6.0 trillion yen.
– We believe the bank will have to come with further easing, and that it will lower its key rate by 15 basis points during the fall, writes DNB Markets.
the dollar has responded to current events to depreciate sharply. Dollar index falls over one percent. EURUSD stands at 1.1172.
In Europe ended the leading stock markets higher.
British FTSE 100 rose 0.05 percent, German DAX 0.6 percent, while the French CAC 40 let wearing 0.3 percent.
oil prices continue down
oil prices show a marked downward trend Friday.
Brent September oil falling 1.8 percent to 41 , $ 92 a barrel, down from around $ 43 a barrel at closing in Oslo yesterday.
WTI oil goes back 0.9 percent to $ 40.79 a barrel.
Oil prices are according to Bloomberg took its worst month in a year.
– there is too much oil in the market, there is an unimaginable amount. The oil is in a price corridor of 40-50 dollars a barrel, and prices under $ 40 will involve a problem, says Investment Director Jonathan Barratt Ayers Alliance Securities in Sydney news agency.
A survey Reuters has done among 29 analysts and economists have pointed contrast to an oil price (Brent) on average $ 51.15 a barrel in Q4.
the arguments are in greater demand growth and geopolitical risks.
– geopolitical risk is increasing factor supporting prices, with the danger of terrorist attacks in the West and the Middle East, said Commerzbank analyst Carsten Fritsch news agency.
Statoil purchases and DNO bid
On the Oslo stock Exchange fell Statoil 2.0 percent to 132.80 kroner on the Petrobras agreement to buy 66 percent of license BM-S-8 in the Santos basin offshore Brazil for $ 2.5 billion.
the purchase includes a significant portion oil found Carcará which Statoil itself characterized as “world class.”
According to Rystad Energy Statoil depending on an oil price of 70-80 dollars a barrel if production will pay off.
USA let oil giants ExxonMobil and Chevron presented figures for Q2. Both punishable by declines in New York.
Otherwise oil rose DNO 2.9 percent to 8.60 million in the offer to purchase all new share capital in Gulf Keystone Petroleum for $ 300 million, after the latter’s refinancing.
the terms of DNO’s proposal, which will include payment in both cash and shares, reflecting a premium of 20 percent against Gulf Keystone exchange rate of $ 0.0109 on July 14.
Swedbank -analytiker Teodor Sveen Nilsen believes according to TDN Finans that there are no red flags in the acquisition proposal, while chief analyst Karl-Johan Molnes Norne Securities believes DNO has managed to work up an offer that is better on all counts compared to refinancing proposal that exist for Gulf Keystone.
Telenor case, Norwegian up
Otherwise, among the most traded marked Telenor and Lerøy Seafood the most negative.
the former fell 3.2 percent to 140.90 million at today’s second highest volume after Deutsche Bank downgraded the stock from hold to sales. Meanwhile, rumors occurred about Vimpelcom sales. The latter fell 1.9 percent to 405.10 kroner, and was among several salmon stocks that saw red on reports of a sustained fall in prices.
Moreover fell Frontline 2.2 percent to 66 percent at constant pressure tank rates, while Aker Solutions fell 1.6 percent to 35.21 crowns.
Upstream reports according to TDN Finans that the latter’s subsidiary in Malaysia has been called a FEED contract (front-end engineering & amp; design) of Mubadala Petroleum for development of gas field Pegaga.
On the positive side, we find Norwegian, which eased 4.2 percent to 303 kroner. Some of the increase may possibly be related to the drop in oil prices and possible fuel savings.
We also take that NEL climbed 4.2 percent to 2.26 million, and Gjensidige which rose 1.7 percent to 142 , 30 million.
– Archer in breach without Seadrill
Relatively speaking we find Seadrill controlled Archer high on the list of losers. The stock fell 6.6 percent to 4.80 million by bright red quarterly.
Investment Economist Tom Hauglund in Nordnet points out in a comment Hegnar.no that concerns queued for both shareholders and banks.
– Did not Seadrill borrowed Archer money, the company would have been in breach of the covenants, says Nordnet economist.
He also points out that Archer will pay $ 25 million in quarterly installments from May 2017 on the revolving credit facility of $ 625 million.
– And it expires in May 2018. in order to have money for the company must win Powerball USA, said Hauglund.
Seadrill fell on its page 5.0 percent to 24.69 crowns.
Fredriksen hungry for supply
only one stock fell more than Archer. Mercury Market-listed WR Entertainment went back 23.3 percent to 1.91 million.
In addition to the aforementioned Seadrill came DNO major shareholder RAK Petroleum, Funcom and Havyard closest with falls of 5.6 percent.
on top of the winners’ list we find supply company Deep Sea supply, with John Fredriksen owners. Shares rose 10.0 percent to 1.76 million.
After Kjell Inge Rokke’s genius in Rem Offshore alerts Fredriksen battle of wounded supply shipping companies, Finance writes newspaper Friday.
– The market needs to be consolidated and we will be with. (…) It’s all about finding the right deal, says Fredriksen’s right hand Harald Thorstein said.
Virtually follows two further supply ship owners.
DOF gained 7, 5 percent to 1.15 million by the subsidiary DOF Subsea has been awarded a new 5-year contract with two 2-year options of Shell Australia.
Eidesvik Offshore followed then, with a rise of 5.2 percent to 9.89 million.
We finally with Awilco Drilling and Ekornes, which rose respectively. 5.0 percent to 33.60 kroner and 4.4 percent to 100 million.
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