Investors send Patientsky to heaven

Investors send Patientsky to heaven

The Oslo Poor’s benchmark is up 0.2 percent since the start on Monday, but an hour into the trading day the benchmark index turns lower and is down 0.1 percent.

The index is now trading around 1,255 points, not far from the peak of around 1,290 points from last year.

The spot price of North Sea Crude Oil, a key benchmark price for oil trading around the world, has fallen to approximately $85.5 per barrel.

The patient’s cloud rises sharply

On Monday morning, health technology company Patientsky rose 115 percent in Oslo Bors. The background is that the company announced on Sunday evening that it would sell parts of its business to Danish EG.

In an announcement on the exchange, the company said the settlement means Patientsky Group is selling the majority of the business, including Patientsky’s software solution and app. The Patientsky Group will receive between NOK 850 and 900 million, subject to approval of the sale by the Norwegian Competition Authority.

Part of the sale price will be used to pay off the bond loan, after which the company calculates it will be between NOK 650 and 700 million.

PGS announced before the exchange opened that it has authorized DNB Markets and Pareto Securities for a potential issuance of a large four-year bond of US$450 million.

The proceeds of the bond, along with cash on the balance sheet, will be used to repay the company’s existing loan (B), which matures in March 2024.

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The share rose 4.3 percent from the start.

New inflation numbers await

This week, investors are waiting for the “hottest numbers of the month” for the month of February in the United States. That is, the number of non-farm jobs, also known as the “non-farm payroll.”

The economists at Handelsbanken write in their Monday morning report that the market is preparing for an important week.

We got both payroll numbers from the US, where a significant drop in job growth is expected from a very strong January, as well as the Powell hearing on Wednesday. The labor market report is expected to continue to show the strength of the US labor market and may pressure the Fed to keep interest rates higher for longer, they write.

Here inside, new inflation numbers will arrive on Friday. Economists at Handelsbanken expect core inflation to decline marginally from 6.4 percent in January to 6.3 percent in February, as written in the morning report Monday.

Cautious optimism in Asia

Cautious optimism prevails in Asian stock markets at the start of a new week.

Investors are trying to absorb moves and signals from Beijing, where the People’s Assembly meets. The growth target of “around five percent” is somewhat lower than the consensus of international financial institutions. UBS raised its growth forecast from 4.9 percent to 5.4 percent on Monday.

“The reopening is going better than we previously expected. The dreaded second wave of infections has not occurred. There are fewer signs of supply disruption. The global economy has been more resilient than previously thought,” UBS wrote in a report, according to CNBC Asia.(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.

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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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