Can optimism extend to the Oslo Bors?

Can optimism extend to the Oslo Bors?

There was a broad rally in the US on Wednesday, and Asian stock markets rose significantly.

A number of companies are also providing their numbers for the second quarter today, including several Røkke Companies; Aker BP, Aker Horizons, and Aker Solutions. So do Europris, Kitron and OKEA.

Nordnet analyst Roger Berntsen believes the Oslo Poor’s market will open 0.1 percent or within range. [-0,3, 0,5] percent.

“Inflationary pressure in the US economy fell more in June, and more than most people expected. The question now is whether the Federal Reserve, the US central bank, will accept another increase this year, instead of two as previously announced. Underlying inflationary pressure remains higher. from the central bank’s 2 percent target, but not by much,” Berntsen wrote.

Asia Rally

There is bullishness across the board in Asia on Thursday, after top figures released on Wednesday showed price pressure easing more than expected in the US.

Since June last year, prices have risen 4.8 percent, compared to 5.3 percent year-on-year core inflation in the previous month. The consensus indicated a rise of 5.0 percent in core prices year-on-year and 0.3 percent month-over-month.

According to the report, price growth has not seen this low in two years CNBC.

In Japan, the Nikkei rose 1.6 percent, while the broader Topix index strengthened 1.2 percent.

In China, the Shanghai Composite Index advanced 0.9 percent, and Hong Kong’s Hang Seng rose the most with a strong rise of 2.5 percent.

In India, the Sensex was up 0.7%, the S&P/ASX 200 in Australia was up 1.6%, and the Straits Times Index in Singapore was up 1.6%.

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Read Asia’s full explanation here.

Oil prices are rising

Brent oil rose 0.4 percent to $80.45 a barrel since midnight. In contrast, a barrel of North Sea oil was trading at $80.30 at the close of the Oslo Stock Exchange on Wednesday.

US shale oil (WTI) rose 0.4 percent to 76.03.

On Wednesday, the price of oil rose above $80 a barrel for the first time since the end of April. Thus both the inflation figures and the weaker dollar overshadowed the sudden increase in US crude oil inventories, which rose by 5.9 million barrels – the largest increase in four weeks.

– Oil prices still have a lot to go, as the balance of oil looks increasingly tight for the rest of the year, says Vivek Dar, head of analysis at the Commonwealth Bank of Australia.

According to Bloomberg, the analyst expects Brent crude to average $85 per barrel in the fourth quarter, TDN Direkt writes.

Wall Street rose

Wednesday’s inflation figures contributed to a broad rally in the US stock market. The Nasdaq index rose and was the winner of the day.

The S&P 500 rose 0.75 percent to 4,472.38, while the technology index, the Nasdaq, rose 1.15 percent to 13,918.96. The Dow Jones rose 0.25 percent to 34,349.27

Among other moves, Domino’s price rose more than 11 percent and Enphase Energy rose more than 5 percent. Meta rose strongly by 3.7 percent.

Read the full US commentary here.

Oslo Stock Exchange in green

On Wednesday, the main index on the Oslo Stock Exchange rose 0.9 percent, before closing at 1216.21 points.

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DNB It fell 1.9 percent to 196.70 Norwegian kroner after the company presented its quarterly figures. In the second quarter of the year, the bank made a profit before tax of NOK 12.3 billion, an increase of NOK 10.2 billion in the same period last year.

Earthquake Society PGS It increased by 12.7 percent to NOK 6.17. That happened after dropping 8 percent on Monday and 5 percent on Tuesday after earnings updates from the company and competitor TGS. On Wednesday, DNB Markets raised the recommendation from Sell to Buy, with a price target of NOK 6.

Kahoot It rose 6.5 percent to 31.83 Norwegian kroner after brokerage firm Morgan Stanley raised its target price from 25 kroner to 35 kroner, while the bank repeated its buy recommendation.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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