Flat on the Oslo Stock Exchange at lunchtime – Neil’s stock fell 10 percent

Flat on the Oslo Stock Exchange at lunchtime – Neil’s stock fell 10 percent

Lemon It held its capital market day on Wednesday, and announced in the morning hours that it expects revenues and operating profits to double in 2024. Investors responded by sending the stock down 9.7 percent at lunchtime, to NOK 30.15. – Although we maintain our 2023 outlook and increase our long-term margin ambition, weak demand in the first half of the year in Europe and China contributes to a moderate outlook for 2024, says CEO Peter Nelson in a commentary.

Univid It ended Tuesday down 30.3 percent, and on Wednesday fell another 17.7 percent to NOK 0.18. SeeYou was supposed to save the company from delisting, but on Tuesday it became known that Univid received notice of termination of the agreement with SeeYou.

Northern pits It remains at the top of the list of losers, with a decline of 21.4 percent to NOK 2.28. The stake increased fivefold at the end of November after Oilco Drilling won the second of the two arbitration cases. The drilling company itself has an ongoing arbitration case against Hanwha Ocean. Last month, Northern Drilling shares rose just over 80 percent, while so far this year they have fallen more than 90 percent.

Oil price

The price of Brent crude in the North Sea at lunchtime on Wednesday rose by 0.1 percent to $73.34 per barrel. barrel, while spot prices for US light oil, West Texas Intermediate crude, rose by 0.02 percent to $68.70.

The January contract for Brent crude rose 0.01 percent to $73.25.

Increased Russian oil exports and rising US production are now raising concerns that supply is outstripping demand.

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The oil market is facing an American-led increase in production. At the same time, there are doubts about whether OPEC will be able to meet production targets and see possibilities for demand cuts, Vishnu Varathan, a strategist at Mizuho Bank, tells Bloomberg News.

Stock market locomotive moderation The stock opened down one percent, but recovered to rise 0.4 percent to NOK 332.20. Aker BP shares fell 0.8 percent to NOK 291.40.

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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