Friday , June 18 2021

The rise in oil prices has raised the stock market



The main index for Oslo Børs ended in 872.61 on Friday, after an increase of 0.91%.

Equity shares and certificates were traded for NOK 4909 million.

Wall Street opened up heavily, burdened with technology, but has since recovered.

Nasdaq fell by 0.2 percent, while Dow Jones by 0.4 percent.

It is characterized by Brexit chaos

The stock exchanges indicating European tonnages also look red.

The German DAX is almost unchanged, but the French CAC 40 and the British FTSE 100 respectively decrease, 0.3 and 0.2 percent.

Investors are worried that Britain is moving out of the EU without a divorce agreement.

Several ministers filed for resignation after Prime Minister Teresa May was able to submit a draft agreement with Brexit.

In fact, he can boil for the future of the Maya party leader for conservatives because the flow of suspicion increases.

And the proposal of distrust can get through.

According to Sky News, the custos in the parliament asked parliamentarians to organize the schedule.

The pound has fallen sharply on the broad front, but is gaining momentum in today's trade.

Oil prices go on

Crude oil prices are continuing an upward trend since yesterday.

The price of Brent crude oil increased by 2.5 percent to 68.27 barrels of oil, an increase from approximately $ 67.10 at the close in Oslo yesterday.

WTI oil climbs 2.5% to 58.12 USD per barrel.

The recovery comes despite the fact that yesterday's data from the US authorities showed record production and much higher than expected.

What supports the price of oil is probably the expectation that OPEC will reduce production at the December meeting.

Analysts believe that this may cause rapid growth, especially if production continues in Venezuela and Libya.

"We will probably have at least a million barrels in Iran's lower export since December, I do not want to be surprised that Brent oil returned this year in the 1980s," says global resource strategist Harry Tchilinguirian at BNP Paribas at Reuters Global Oil.

The fact that Iraq resumed oil exports from northern Kirkuk also provides support for oil prices. Analysts are waiting for messages up to 300,000 barrels a day.

See also: Who wins the battle for the price of oil – OPEC or Trump?

Oil stocks in sig

The rise in oil prices raised oil shares to Oslo Børs, while Equinor raised 1.8 percent to NOK 208.70.

Otherwise, Aker BP incurred 0.5 percent to 251 crowns, and DNO increased by 3.2 percent to 14.45 crowns.

"It is the price of oil that drives recovery in the E & P names today, with DNO as the most sensitive company, says analyst Fearnley Henrik Prøsch Selnes to Hegnar.no.

After weak contact last month, Pareto analyst Tom Erik Kristiansen expects better DNO results.

"After a short period resulting from lower oil prices, it is natural that stocks are now starting to improve. We expect positive growth to continue, fueled by solid production growth, high free cash flow and soon available drilling results in the promising Baeshiqa block in Kurdistan," he says. Hegnar.no.

In the energy sector, we must also assume that Questerre increased by 4.9 percent to 2.97 crowns after purchasing 34 sections in the Montney formation.

PGS-revenge

Among the most sold, Othello was positive, from 5.3% to 12.44 crowns. Folketrygdfondet announced a company exit on Friday.

The output is happening after an aggressive breakdown in recent weeks, in a warehouse where liquidity is not the greatest. The analyst informs TDN Directly that lack of sales pressure in the future may explain some of the price increases.

PGS jumped by 2.5 percent to 21.03 kroons after yesterday's plague, and SEB analyst Terje Fatnes indicates in Finansavisen that the company intends to sell the Ramform ship with a solid premium.

"The stock market is currently at the book value level, but a library with many clients is obviously worth much more than the book value," he says.

Elkem and Tomra were better than their profits. 3.2 percent to 27.47 crowns and 2.7 percent to 227 crowns.

We also assume that BW Offshore increased by 4.3 percent to 51 crowns.

The front line falls by a number

Yesterday's only goalkeeper, Scatec Solar, continued the game with a new 2.4 percent to $ 69.70, but was not close to an intraday record of $ 71.50 from yesterday, triggered by the great Equinor case in the company.

The front line was among today's pioneers and surprised positively. However, the market decreased its share by 0.5% to 53%.

"These were even good numbers, especially good VLCC charter in Q3. The fourth quarter report also looks good, considering the expectations for consensus were ahead of the report, says analyst Marius Furuly from Carnegie to Hegnar.no.

It is positive for the future tank market and has a purchase recommendation for shares with a target price of 67 kroner.

Russian salmon smelter

On the negative side, we mainly find Bakkafrost, who has they had to stop Russian exports because of bacteria in one of its locations.

Shares fell by 3.9 percent to 420 crowns.

Pareto Securities believes that the Russian cold shower is a chance to buy.

In other cases, SalMar returned 1.1 percent to NOK 487 after production manager and board member Geir Berg sold all their 764 shares of the company at NOK 499.6259.

Sea harvests have risen by 0.4 percent to $ 194 with today's second highest volume.

According to TDN Direct, the exporter claims that prices for salmon have been significantly reduced since last Friday and last week's fish were dumped.

Subsea 7 adjusted 0.9 percent to 101.35 crowns after yesterday's rally after UBS defeated the purpose of the course.

Small spectra from Seadrill

Relatively speaking, Siem Offshore rebounded after yesterday's sharp fall in prices for soft trade.

The share ended 44 percent to 1.80 crowns, on still a thin volume.

The next biometrics approached 17.5 percent to 43.95 NOK, while Hofseth Biocare increased by 14.3 percent to NOK 2.64 in Oslo Axess.

Itera was the fourth part, which grew on Friday by two-quarters, more precisely by 10.5 percent to 9.50 crowns.

Seadrill finished 3.7 percent to SEK 142.90 Legend of the hedge fund bought shares in the company.

Tidge Hiddn Securities received 3.7 million Skattefuns, shares ended on the loss list, and 7.1 percent fell to 1.44 crowns.

The biggest drop was recorded by the Mercury Market WR Entertainment and Lifecare duo. 24 percent to 19 øre and 11.5 percent to 51 øre – both in the soft market.

We also assume that Belships returned by 7.3 percent to 4.82 crowns, and Rieber Shipping by 6.7 percent, to 9.10 crowns.


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