The main index rose on the Oslo Stock Exchange by 0.2 percent in the last trading day of the week.
The price of North Sea (burning slick) oil rose by 0.7 percent in the morning hours. Just before the exchange opened, a barrel of North Sea oil was trading at $82.5, still down more than 2% as of Monday.
The most heavily traded stocks in the first trading hour were the heavyweight Equinor, which rose 0.6 percent, DNB Bank, which rose 0.1 percent, and Frontline, which rose 1.6 percent.
SAS with a loss of billions
An hour before the start of the trading day, SAS provided its numbers for the period from November last year to January this year.
Within three months, the company had an operating loss (EBIT) of just over SEK 2.6 billion. In the same period in the previous year, the operating result ended at SEK 1.3 billion, when the industry was hit hard by the omicron variant and the lockdown.
The bottom line, profit before tax, improved slightly from a negative result of SEK 2.6 billion to minus SEK 2.5 billion.
The stock fell 4.2 percent in an hour after the trading day.
Mortgage firm Tomra Systems also reported its results on Friday. The company can show total revenue of NOK 496 million in the fourth quarter of 2022, compared to NOK 535 million in the same quarter a year earlier.
The result before tax was NOK 466 million in the quarter, compared to NOK 502 million in the same period a year earlier. A pre-tax profit of NOK 407 million was expected up front.
The share fell 3.1 percent.
Waiting for US inflation figures
This afternoon, US investors will receive the Consumer Price Deflation Index (PCE) for January, the Fed’s preferred inflation indicator.
Unchanged growth in total personal consumption expenditures of 5 percent is initially expected, and a marginal drop in core inflation to 4.3 percent, after 4.4 percent in December, economists at Handelsbanken Capital Markets wrote in a report on Friday morning.
Interest rate expectations rose last month. They write that the main market expectation is that the policy rate will be raised by 25 percentage points at the next meeting, but at the same time see no small 20 percent possibility of a double hike.(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 more terms see here.
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”