September 18, 2021

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Oslo Poor's Rise: Big-selling Norwegian creditors - the brokerage firm believes strongly in 2022 for the fertilizer giant

Oslo Poor’s Rise: Big-selling Norwegian creditors – the brokerage firm believes strongly in 2022 for the fertilizer giant

The Oslo Stock Exchange was up 0.6 percent before the first hour of trading ended on Thursday. Other than that, these are the most prominent markets:

  • There is a mixed development in the Asian stock markets on Thursday morning and no major moves.
  • Oil prices rose slightly on Thursday morning and were trading around $71.40 a barrel. As expected, the OPEC + oil alliance agreed to increase production by 400,000 barrels per day.
  • The krone weakened several times against the euro yesterday, but the moves were fairly consistent on Thursday. The price of one euro is 10.30 kroner. The price of the dollar is 8.69 kroner.
  • Bitcoin is up two and a half percent and is now trading at over $50,000.
  • Meglerhuset SEB has upgraded its fertilizer manufacturer Yara recommendation from wait to buy. The target price has been raised from 475 kroner to 500 kroner per share. The belief that fertilizer prices will rise next year is an important factor.
  • US buyout fund Advent and Aurora Investment will buy Swedish biotech company Swedish Orphan Biovitrum, also known as Sobi, for about SEK 70 billion.
  • Norwegian Air announced on Thursday the completion of the announced structured sale of approximately 95 million shares in the company. On behalf of the creditor group, brokerage firms ABG Sundal Collier and DNB Markets sold about 94.96 million shares in Norwegian, equivalent to 11.84 percent of the shares in the airline. The shares were sold at NOK 9.30, i.e. each share was sold for NOK 9.30.

  • This means that Norwegian shares were sold for a total amount of NOK 883 million. The sale was made through what is called a quick track record building process, which means that the brokerages set the mood among potential buyers and thus the price was set based on demand and interest.

  • An announcement of the flag just before the opening of the stock exchange indicates that Folketrygdfondet has bought more than 20 million shares in Norwegian and that it now owns 6.96 per cent of the shares in the airline.

  • Chairman of the Board Svein Harald Øygard also uploaded: he bought shares for 2 million kroner, and now owns just under 1.6 million shares in Norway. Norwegian shares fell three percent, but recovered slightly when the purchase of Øygard’s stock became known.

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Waiting for job numbers

On Wednesday, the main index on the Oslo Stock Exchange rose 0.8 percent. There was some mixed development in Europe and it was very quiet in the United States.

The main index opens completely flat on Thursday morning. There are also no major moves among the major companies on the Oslo Stock Exchange. No significant aggregate numbers will be presented on Thursday, but on Friday applauds are ready for what is often called the “most significant number of the month” — employment numbers from the United States, the world’s largest economy.

Macroeconomist Oddmund Berg at DNB Markets felt the markets fell silent.

“It is possible that players will be quiet in anticipation of important labor market numbers from the US on Friday, which could give indications as to whether the Federal Reserve has a basis for changing the rule in the direction of being less supportive, i.e. starting to reduce the value of purchases. For that to be the case. The development in the labor market is absolutely central,” he wrote in the brokerage’s morning report on Thursday.

The Federal Reserve stands for Federal Reserve, which is the name of the US Federal Reserve.

In July, non-farm employment rose by 943,000. Economists and other forecasters expect that 750,000 new jobs will be created in August. DNB Markets is more optimistic and believes that 800,000 new jobs have been created.

Seven consecutive months with the rise

The main index is up just over 18 percent so far this year. With growth also in August, global stocks have now risen for seven consecutive months. This has only happened five times since 1994, according to chief strategist Christian Lee at Wealth Management.

Financial markets are now entering the fall months. According to Berntsen, this usually means increased volatility and uncertainty in the exchange.

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“Having said that, if it turns out that corporate earnings also continued to rise in the third quarter, it’s not certain that the fall will be bad. Mao. A lot depends on how many negative earnings forecasts come out in the next two or three weeks. Historically, there have been Expect September earnings more than in other months of the year,” he wrote in a market commentary on Thursday.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.