Oslo Stock Exchange’s main index reached a new season best Tuesday; 625.50, the highest quotation since December 2015. The closing price sounds at 624.90, up 0.9 percent (5.59 points).
Companies that Telenor and Schibsted, who provided the figures Tuesday morning, will have the main credit for the exchange went so powerful. Telenor accounted for over three points of the main index’s rise.
The stock exchange is thus up 2.4 percent so far this year, while the return last week’s 5.8 percent.
Revenue ended three billion
Crude falls back
Exchange rose despite falling oil prices. Brent September oil is down 0.3 percent to $ 46.80, while the American WTI oil falling 0.7 percent to $ 45.62 a barrel.
Statoil ended unchanged at 147.40 kroner.
Telenor tet
Several heavyweights presented figures Tuesday morning. These dominated the winners.
Telenor convinced the operation. The stock was rewarded with an upturn of 4.4 percent to 147.70 kroner. Telenor topped sales section with nearly 700 million.
At the highest standing stock of 150 million, which is the highest quotation since January.
Telenor jacking up its guidance for 2016 and record EBITDA margin for the quarter to around 35 percent from the previous 33-34 percent, while revenue is projected to grow around 1-2 percent from previous 2.4 percent.
Telenor announced that the company will participate in the upcoming spectrum auctions in India, on the grounds that it will not provide adequate returns.
Jefferies characterizes Reuters report as “solid” and that overall “supportive” news.
Schibsted rally
Schibsted rose significantly in its quarterly figures. A shares ended up 6.9 percent to 273.50 kroner, while B shares were lifted 6.8 percent to 261.50 kroner.
Both revenue and EBITDA beat expectations, as well as investments for the year and long-term growth in online classifieds repeated in the layer 15-20 percent
– Based on today’s report, eight percent (rising earlier today, red, note.) slightly higher than what I had thought . But Schibsted supplies where they will deliver. It’s nice, solid growth in all the key classifieds the sites. Moreover hinted it to Schibsted at least not have to spend more money on space. I would rather say a little less than they have been talking about in recent quarters, said Carnegie analyst Preben Rasch-Olsen TDN Finans.
And upswing for Tomra and Aker
Tomra delivered better than expected on all fronts, market sent shares up 0.8 percent to 92 million, after a major upturn earlier in the day.
Aker was up 2.1 percent to 242 kroner after strongest quarter in 10 years.
Opera on down
Opera corrected up to the start after yesterday’s blow in the wake of the fall of the ball sales but tumbled finally 3.7 percent to 52 million.
Fund Financials were yesterday out with an analysis in which the fall yesterday was considered a buying opportunity.
DNB Markets and Danske Bank Markets upgrade recommendation on Opera Software shares to purchase.
Panoro drop to update
Panoro Energy falling down 11.3 percent to 3.99 million after an update.
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