Heavy fall for Autostore on negative Oslo Bors

Heavy fall for Autostore on negative Oslo Bors

After last week’s rally on both the European and American stock exchanges, it is now time for a new week of trading in the Oslo Poor’s, which fell by 0.16 percent last week.

On the first trading day of the week, the main index fell 0.4 percent, after rising slightly since the beginning.

The market trends that have characterized the year so far, and all of which can help explain the positive development in stock exchanges globally, are lower long-term interest rates, a weaker dollar, and lower energy prices.

This is what DNB Markets currency analyst Engfeld-Borgen-Gerde wrote in his morning report.

Among the underlying drivers, lower-than-expected inflation numbers in Europe combined with better activity numbers from both sides of the Atlantic help explain the positive mood in the markets, I wrote.

Located in Autostore

Robot storage company Autostore continued to decline on Friday, down 11.3 percent. This happens after the brokerage firm Pareto last week downgraded the stock from hold to sell. Autostore stock is trading for NOK 22.4.

DNB Markets has also covered Autostore with a sell recommendation and a target price of NOK 18 per share. This emerges from the brokerage house’s analysis Sunday night, TDN Direct writes.

Take action to sell

Autostore is reducing upfront payments for its technology to customers in an effort to boost sales and will continue its legal battle against Ocado.

This is what the Financial Times wrote on Sunday after an interview with CEO Mars Hovland-Fix and his predecessor Carl-Johan Lehr, according to TDN Direkt.

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– Even if e-commerce and global commerce see a decline, we as consumers will continue to buy online, and businesses will still invest in automation. Fix said that only 15-20 percent of warehouses globally have automation.

Strong than Giant Salmon

The most heavily traded stock on Monday was Equinor, which fell 1.7 percent. The oil giant announced the dividend amount of nine kroner per share, Kroner, one hour before the stock exchange opened. The dividend is equal to three percent of the share price. Frontline, which is controlled by John Frederiksen, saw an increase of 3.7 percent. DNB shares fell 1.7 percent.

Before trading began on the stock exchange, salmon giant Mowi delivered its numbers for the fourth quarter. The results showed that the company’s operating operating profit ended at 239 million euros in the first quarter, equivalent to NOK 2.6 billion.

The result was driven by higher salmon prices, and Mowi is valued at NOK 90 billion in Oslo Bors. Equity analyst Knut-Ivar Bakken at Sparebank 1 Markets considers Monday’s massacre update from Mowi positive.

On Monday, Mowi shares rose 1.7 percent.

rising mining companies

Nordic Mining, through its subsidiary Nordic Rutile, has entered into a worldwide exclusive purchase agreement for planned opal production from Engebø for the first five years of production. The company announced this in an announcement to the stock exchange Monday morning.

At the beginning of trading in Oslo Bors, the stock was up nearly 16 percent, but the day ended with a gain of 12.5 percent.

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interest rate meeting

Next Thursday, the stage is set for a new interest rate meeting. In advance, the majority expects that this time the Bank of Norway will keep the main interest rate unchanged.

– There is greater tension related to whether the Bank of Norway will issue new signals about the interest rate outlook. At the December interest rate meeting, they announced the next rate hike in March. I think this will happen because there were no unexpected events or data, writes chief economist Kerry M. Knudsen at Sparebank 1 SR-Bank.

Flat oil price

The price of oil changed slightly on Monday morning compared to Friday evening. In the past week, oil prices have risen more than eight percent. At the end of trading on Monday, a barrel of North Sea oil was traded for $84.4.

Traffic levels in China continue to rise from record lows after infection control restrictions were eased, ANZ analysts said in a note, driving up demand for crude oil and oil products.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We’d like you to share our statuses using links that lead directly to our pages. Reproduction or other use of all or part of the Content may be made only with written permission or as permitted by law. For additional terms look here.

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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