February 4, 2023

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Oslo Bowers opens straight up






Status updated.

Oslo Børs opened on the first trading day of the week.

At the level of 10.50, the main index settled at 1197.18 points, up 0.7 percent.

Falls after cuts in brokerages

Arctic Securities sees a limited uptick in market-oriented dry bulk stocks in the short term, and is opting to downgrade most of the sector from Buy to Hold.

notice Golden Ocean GroupAnd Which fell by 3.4 percent to NOK 89.90 per share. The brokerage has also significantly lowered its price target, from $15.50 to $10 per share. Inventory.

post dry stock, 2020 Blackerswas also reduced, falling by 2.8 percent. Himalaya Shipping It suffered the same fate, dropping 5.5 percent.

“Dry bulk markets have corrected lower as volume growth has eased and port congestion has normalized. With inefficiencies normalizing, supply and demand will dictate going forward,” writes Arctic Securities.

Belships The credit rating was not downgraded, but the price target was revised down from NOK 28 to NOK 20 and weakened by 2 per cent.

Product carrier company Hafnia Ltd It drops 2.5 percent as turnover goes up. The same digging pitswhich decreased by 2.1 percent.

Sparebank 1 SMN It fell marginally 0.5 per cent after the big news at the weekend about embezzlement and several million kroner may have been lost.

Lift – in green on the stock exchange

PGS It rose 8.2 percent to NOK 8.89 per share. On Monday morning, they shared the news that they had won a contract in the Mediterranean worth more than $10 million.

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norwegian forest It strengthened 8.3 percent to NOK 73.35 after DNB Markets raised its target price for the stock.

front line It rises 1.5 percent to NOK 140.40.

China’s reopening will be a driver for crude oil tankers with a stable increase in oil imports from the United States, West Africa and the Middle East, Frontline CEO Lars Barstad told Finansavisen before the weekend.

Simen Thorsen investment company sold shares in Panuru Energy, which is now below the limit of knowledge. The share rose 2.1 percent.

Oil giants are on the rise

Brent crude fell 0.3% to $87.35 a barrel Monday morning, while West Texas Intermediate crude rose 0.1% to $81.69 a barrel.

In contrast, a barrel of North Sea oil was trading at $85.77 a barrel at the close of the Oslo Stock Exchange on Friday. This gives a price difference of about $1.50 per barrel.

“Increased travel activity in China in 2023 is expected to have a positive impact on oil prices going forward, however, uncertainty around growth and inflationary drivers remains significant. A barrel of North Sea oil traded below $80 at the start of the year, but has risen significantly in the past week,” Nordnet analyst Roger Berntsen wrote in his morning report.

Equinor It rose 0.8 percent to NOK 309.15 per share. Aker BP by 1 percent, while our energy It rises 1.7 percent.