Oslo Stock Exchange opened as expected down Tuesday and throughout the day was just bad to worse. The benchmark index ended down 1.86 percent to 597.29
There was traded shares for barely 2.8 billion.
The atmosphere was characterized by a fall in Europe, with bank peelings in Italy, FTSE 250 in London down 2.4 percent and investors in Germany to flee into Treasuries. The latter sent the German 10-year bonds down to a new record of -0.183 percent.
The fall in oil prices also affected the performance of the Oslo Stock Exchange, and as the doors closed was Brent down 1.8 percent to 48.34 dollars, while light crude was down 1.9 percent to $ 47.1.
By comparison, the price for Brent crude $ 50.30 a barrel when the Oslo stock Exchange closed Monday.
oil prices pressed apparently still of Baker Hughes’ weekly rig count. It shows that the number of oil rigs in the United States was up by 11 to 341 per 1 July. This was the fourth week of gains over the past five weeks.
Among the 30 most traded shares on the stock exchange was the only Grieg Seafood who escaped the downturn. Statoil fell 1.43 percent to 145 kroner.
All-time high and -low
Scottish Salmon rose 8.6 percent to a new record of 7.82 million. Selvaag Bolig rose 0.6 percent to a new record of 33.8 million on strong house price figures for June and a record low supply of housing.
Farstad Shipping fell 5.9 percent to a new record low of 10, 3 million, while BW LPG fell 5.17 to new lows at 28.62 kroner. BW Offshore fell 6.7 percent to 14 cents, also the new all-time low.
The company High Seas, with Monaco-based Alexander Hansson in the lead, to challenge the purchase of an additional 1, 4,000,000 shares to incuse Investor ASA (formerly Scana Industrier) and bring it up to a stake of 25.01 percent. Shares rose 9.5 percent to 2.3 million.
REM Offshore However today’s winner in a trade totaling 1.988 million, which sent shares up 17.6 percent to 7.95 million.
PGS fell with oil prices and the current loser, after a fall of 7.9 percent to 17.81 kroner. PGS was joined on the list of losers of a large bunch of oil and oil service stocks, including DNO, the Norwegian, Seadrill, Aker Solutions, Songa, TGS, Fred Energy and Subsea 7.
Flat in Grieg Seafood
Grieg Seafood was unchanged on the operating result in Shetland is significantly improved through 2016, the company writes in a recent update for the second quarter.
Grieg had greater reduction in costs in Shetland than expected in the second quarter, and preliminary estimates indicate an EBIT / kg for this region of around nOK 20 in the quarter.
Earlier this year started GSF a strategic review of its operations in Shetland. As part of this, it has been considered selling all or part of the region.
It has according to the company entered bids, but the board has an overall assessment concluded that it was not conducted an sale now when bidding levels do not reflect the improvements that are about to be realized in the region.
Thus, Grieg work on other strategic options in Shetland. In the company’s assessment, there is a great potential for biological and operational synergies in an increased coordination between actors in the region.
News that influenced
Moody’s Investors Service upgraded Tuesday’s credit rating on SAS from B3 to B2 and Bloomberg reported according to TDN Finans that the outlook is set to stable.
the stock eased and ended up 4.7 percent to 117.7 million. It also sent SAS up to 5th place on the winners.
In Q2 2016 had Electromagnetic Geoservices (EMGS) a fleet utilization of 76 percent, up from 68 percent in the same quarter in 2015.
the management of EMGS rains in the period with a multi-client revenues of $ 15 million.
EMGS presents its quarterly 18 August. The stock fell 2.35 percent to 6.64 million.
In a document from Marine Harvest Food Safety Authority indicated that the company will adopt a new factory in Hitra industrial park on Jøsnøya in 2018, writes IntraFish.
Head of Communications Geir Holen in Marine Harvest says, however, the website that it is not made any final decision. The stock ended down 1.2 percent to 138.6 million.
Norwegian fell 1.1 percent to 282 kroner after Aftenposten had calculated that Norwegian have to pay at least 17 million after flykaoset weekend. That’s in addition to expenses to cover food and accommodation and any compensation to passengers who did not use their hotel rooms, rental cars and the like.
Norwegian would not comment on the newspaper’s cost estimate, but says they basically take responsible for ensuring that passengers not arrived and that they comply with EU rates.
– But what is covered and not covered is dependent upon factors surrounding the individual flying, says communications director Anne-Sissel Skånvik in the airline. She said the company will come up with their own figures within a few days.
Centers ASA rose 0.65 percent to 78 crowns. The company reported that leash for Allehelgens gate 6 Bergen is renewed until April 2024.
The property consists of 14,500 square segments commercial real estate, and is entirely leased to Western Police District.
Some tech and telecom
Telenor fell 1.3 percent. The company announced that Lars Erik Tell Male (44) will become the new CEO of Telenor Myanmar from August 1, 2016. Tell Man is currently CFO of the same company. In his new role will Tellmann part of the Group Executive Management, said in a stock exchange announcement on Tuesday morning.
Tell Male successor Petter Furberg going into a new position in Telenor Digital Business with responsibility for business development in digital marketplaces and retail services in Asia.
Two news
Team Tankers fell 3.9 percent to 12.4 million. After the market closed announced KKR Credit Advisors that it had acquired 5,000,000 shares and funds under KKR with it had reached an ownership of 16.805 percent.
Techstep (formerly Birdstep) announced Monday that it plans to buy 78.1 percent of the company Teki Solutions, and 5.12 percent of Kjedehuset. The acquisition will occur through two transactions. The goal is to create a new growth company focused on mobility and digital solutions. The stock was a while up and sniffed the new course record, but turned down and fell 3 percent to 2.91 million.
DOF fell 0.85 percent after the company reported that bondholder meetings are now held and informed that the proposed changes in bond terms were accepted by each of the bondholders’ meetings in accordance with the notice from DOF ASA. The proposals were voted through respectively 96,31prosent votes in DOF09, 84.36 percent of the vote in DOF10 and 87.93 percent of the vote in DOF11.
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