Opening of the Oslo Stock Exchange FinanceAffairs.com

Opening of the Oslo Stock Exchange  FinanceAffairs.com

(issue updated)

Oslo Bors opens on Monday morning.

After 35 minutes of trading, the main index reached 1,296.06, up 0.20 percent, and NOK 747 million worth of shares had been traded so far.

Oil price

The March contract for Brent oil on Monday morning rose 0.37 percent to $83.86 a barrel, while West Texas Intermediate crude rose 0.37 percent to $78.30 a barrel.

In comparison, a barrel of North Sea oil was trading at $82.42 per barrel at the close of the Oslo Stock Exchange on Friday.

Tension has increased in the Middle East now that it has become known that three American soldiers were killed in a drone attack on an American military base in Jordan.

In addition, Houthi militia attacks in Yemen have escalated. Among other things, an oil tanker en route from Singapore to Morocco was attacked on Friday.

“It appears that even with any decline in demand we see, geopolitics is evolving such that oil prices may have greater upside risks,” Mizuho Bank’s chief Asia economist, Vishnu Varathan, tells Bloomberg.

Rise more

Researchers It was the biggest gainer on Friday, with an increase of 53 per cent, after the Quebec Superior Court upheld the company's request for a temporary stay in parts of Bill 21, the law that exists primarily to end oil exploration and production, as long as the trial continues. On Monday, the stock rose another 25.25 percent to NOK 2.53.

moderation It rose 1.43 percent to NOK 305.90 Aker BB It rose by 1.42 percent to NOK 286.00. Our energy It rose by 1.95 percent to 31.38 Norwegian kroner.

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Boarding

Sludge company Campy It has signed what the company describes as a fairly large contract to supply a pyrolysis treatment system to the Honoliuli Water Treatment Plant in Honolulu, Hawaii. This raises the stock by 6.36 percent to NOK 18.40.

John Frederikssens Archer It ended Friday down 3.6 percent after updating investors on the record quarter ending in 2023. However, the stock is now up 4.87 percent to NOK 0.90.

Analyst Bard Rozef at Pareto Securities believes Archer is now a double favorite.

Another Frederiksen company, the tanker company Front lineby 2.72 percent to NOK 235.80, as it is currently the most actively traded stock.

Other shipping stocks are also strengthening. Among other things lies Hafnia On the same 2.50 percent to NOK 79.80, while Oceanis environmental tankers It rose by 3.03 percent to NOK 306.00. This is despite ABG Sundal Collier lowering its price targets for both shares on Monday. However, purchase recommendations are maintained.

Nordea has given a price target Stolt Nielsen Strong boost with buy recommendation. The stock rose 3.44 percent to NOK 390.50.

in red

Autostore shares fell 5.21 percent to NOK 19.10 on Monday, but have risen 63.9 percent in the past three months. Acacia rose last week from Finansavisen's internal portfolio.

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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