Dip in Oslo Borse – Zaptek Waterfalls – E24

Dip in Oslo Borse – Zaptek Waterfalls – E24

Electric vehicle chargers trended significantly lower, after initially rising after today's numbers were released.

Published:

The status is updated throughout the trading day.

The Oslo Borse Index fell moderately from the start on Wednesday.

The main index fell 0.45 percent immediately after that 10.

Oil prices have fallen since yesterday. North Sea Oil (the burnt spot) is trading at $81.8 at the time of writing. The dollar has fallen trivially since the stock market closed yesterday.

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Norwegian investment funds are good at home. Abroad, they lose

Here's how some of the most actively traded stocks performed in early trading:

  • Norwegian falls 0.4 percent
  • Equinor fell 0.4 percent
  • Frontline fell 4.3 percent
  • Ensurge Micropower stock fell 12.8 percent, after rising sharply yesterday after the numbers were released
  • Höegh Autoliners, which trades ex-dividend, fell 10.4 percent. The decline of NOK 13.3 per share is less than the dividend of NOK 19.9216 per share.

In the world, things look mixed on Europe's major stock exchanges this morning. On Tuesday evening, there was a decline on Wall Street in the United States. In the morning hours there was a strong rise in Chinese stock markets, but otherwise calm in Asian stock markets.

It's been a relatively quiet week on Oslo Bors so far, with a cautious decline on Tuesday and a slight rise on Monday.

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Growth for Zaptec

The Norwegian electric vehicle charger company reported its fourth-quarter results this morning.

The stock is down 10.9 percent at the time of writing, after initially rising in early trading.

Zaptec recorded growth in revenue, exports and order reception. The company's turnover reached NOK 408 million in the quarter, up from NOK 239 million last year. The increase in exports to Europe has contributed positively.

The pre-tax result improved to minus NOK 10.3 million, from minus NOK 45.7 million at the same time last year.

Better than Photocure

There were also results from a number of other Oslo Børs in the morning hours.

  • Photocure increased its sales volume and turned a profit in the fourth quarter. Income amounted to NOK 142.5 million, while the result before tax was NOK 16.6 million. The bladder cancer company highlights better unit sales and price increases, as well as a positive currency impact. Photocure stock fell 3.8%, after initially rising in early trading.
  • Eidesvik Offshore earned $103.5 million before taxes in the fourth quarter. The shipping company reported an increase in both revenue and gross operating profit (EBITDA) in the quarter, if adjusting for the sale of ships in the fourth quarter of 2022. The share rose 0.8 percent.
  • Oil company Petronor, which has offshore operations in West Africa, had lower sales and profits in the previous quarter than at the same time in 2022. Its share fell by 5.1 percent.

In addition to earnings releases, Equinor has now announced its third-quarter dividend in Norwegian krone. The dividend to shareholders, which was $0.9 per share, will be NOK 9.47 per share.

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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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