September 20, 2021

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A strong rise in IT shares on the Oslo Stock Exchange - E24

A strong rise in IT shares on the Oslo Stock Exchange – E24

Link Mobility is up more than ten percent after delivering a quarterly report.

Fall: The stock market is in the red on Tuesday morning. Several companies have provided numbers, including the Link Mobility IT share, which is rising sharply.

Posted:

On the twilight of the morning, a number of companies provided numbers, including the information technology company Link Mobility.

The stock rose by 10.4 percent to 35.4 kroner and is among the most heavily traded shares on the stock exchange in early trading.

Link Mobility posted an adjusted operating profit (ebitda) of NOK 119 million in the second quarter of 2021, compared to NOK 98 million in the same period last year, according to the company’s quarterly report on Tuesday.

Message volume increased 37 percent in the second quarter, compared to the same period last year. Of this, 28 percent was organic growth.

Everyone who has a mobile phone in Norway will receive a monthly letter from Link Mobility, through, for example, a vaccination notice, that a tax return has arrived or if you have purchased a plane or concert ticket. Link earns money for every message that comes out of customers, plus more advanced products come on top of that.

The main index fell 0.4 percent to 1,145 points.

Resultatrush

Other companies that have provided numbers are:

  • Huddly, which produces cameras for use in video conferencing. The company’s second-quarter accounts show lower revenue and results. The share fell 10.9 percent to 8.2 kroner.
  • Insr Insurance Group reported a pre-tax profit of NOK 0.5 million in the second quarter of 2021, compared to NOK 221 million in the same period last year, according to TDN. The stock rose by 8.24 percent.
  • John Frederiksen-dominated debt collector Axactor rose 4 percent after providing accounts that showed green numbers. Revenue rose 130 percent to 65.9 million euros in the second quarter of the year compared to the same period last year. Operating profit (EPDA) was €22.2 million for the quarter, an improvement from minus €30 million at the same time last year. Net profit fell to 4.4 million euros in the second quarter from minus 44.4 million.
  • Shares of Jinhui Dry Shipping Co. fell 6 percent. Operating profit was $86 million in the second quarter of 2021, compared to operating profit of $-4 million in the same period last year, according to the company’s latest quarterly report. The net result was $86 million, down from $5 million. The result includes a reversal of the loss provisions of $65.5 million for the quarter. The company earlier announced a positive net profit of about $90 million in the first half of 2021, TDN writes.

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Asian stock markets slumped, and Chinese online giants in particular, including Tencent and Alibaba, were affected. China on Monday released a document outlining the rules prohibiting unfair competition in the Internet sector, according to CNBC.

Wall Street rose to an all-time high on Monday, with gains for two of the three major stock indexes. The Dow Jones Industrial Average and the broad S&P 500 both started the day lower before turning to a positive end Monday night. Monday night gave a new record value to both.

Tesla shares fell 4.3 percent after news that US authorities are opening an investigation into the company’s autopilot.

Last week, it was close to among the all-time highs on global stock exchanges, and the S&P 500 and Dow Jones both hit new highs ahead of the weekend. The Oslo Stock Exchange did the same, before the main index fell 0.78 percent on Monday.

On Tuesday afternoon, the US will present its shopping figures, that is, the retail numbers for July, which are expected to decline after the rise in the previous month.

Otherwise, the price of oil without significant changes. One barrel of oil is trading at $69.1 after a 0.7 percent drop since midnight.

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