June 9, 2023


Complete News World

Oslo Bors directly into the final trade

Oslo Bors directly into the final trade

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From its plunge for large parts of Tuesday, the Oslo Stock Exchange appeared after lunch, and about. At 14:39, the main index was in the red, aided by oil prices and heavyweights such as Equinor, Aker BP and Yara.

When the Oslo Stock Exchange closed, the price of Brent oil was $107.15 a barrel, while West Texas Intermediate crude was $104.70. By comparison, a barrel of North Sea oil was trading at $103.80 a barrel at the close of trading in Oslo on Monday.

13 stocks fell to a new all-time low; Airthings (-4.4%), Arribatec (-2.7%), Atlantic Sapphire (-6.5%), CSAM Health (-3.7%), Endur (-6.6%), Complete (-6.7%), Kraft Bank (-2.8% )), Nordhealth (-9.8%), Notel (-3.5%), Pexip (-2.7%), Play Magnus (-1.8%), Skandia Greepower (-7.6%), and Xplora (-3.6%).

The weights who lifted the stock market

Equinor It rose 2.4 percent to 325.30 crowns, while Aker BP It ended up 3.3 percent to 343.20 crowns. Yara It rose 2.5 percent to 485.80 crowns.

Aker . solutions It fell sharply after the quarterly numbers on Tuesday morning. The company doubled its bottom line earnings, but the stock was still down 7.8 percent to 29.56 crowns.

Telenor It fell 2.0 percent to 130,860 crowns. The company provided first-quarter numbers on Tuesday morning that showed a sharp rise in profits, but the copper grid shutdown, higher energy prices, competition in Thailand and mergers are costly, Telenor warns.

The results were clearly on the weak side of the consensus, and were also somewhat below our estimates, although Telenor Norway delivered slightly above expectations. However, net debt of NOK 3 per share was better than consensus and earnings guidance looks confident, says DNB Markets analyst Frank Mau for TDN Direkt.

Norsk Hydro It generated an operating profit before depreciation and amortization of NOK 11.2 billion in the first quarter. It was better than the record set in the fourth quarter by more than 2 billion NOK. The stock closed down 0.4 percent to 77.50 crowns.

Pareto Securities notes that results have been record strong, but brokerage analyst Kenneth Seifertsen also told TDN Direkt that the stock may have been negatively affected by aluminum, among other things, on the shutdown in China and fears of a recession.

The numbers were perfectly fine, but not enough to counteract the drop in aluminum prices today, Sivertsen says about the current movement in Norwegian Hydro.

According to TDN Direkt, ABG Sundal Collier wrote that they outperformed brokerage estimates in total, but at the same time states that the upstream business is affected by cost inflation. In addition, the brokerage notes that the company’s future market prospects are positive, but at the same time rather low.