January 27, 2023

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Oslo Poor’s opens lower in a row – Frederiksen shares rise

Oslo Poor’s opened down just over one percent on Tuesday morning, but has now recovered significantly.

After 43 minutes of trading, the main index settled at 1192.52, down 0.14 percent.

oil price

Brent crude fell 0.48% to $79.27 a barrel on Tuesday morning, while West Texas Intermediate crude fell 0.36% to $74.33 a barrel.

On the other hand, a barrel of North Sea oil was trading at $81.12 a barrel at the close of the Oslo Stock Exchange on Monday.

According to TDN Direkt, there are now expectations that higher interest rates in the US will dampen economic growth and curb demand for oil after hawkish comments from Fed members.

Atlanta Fed President Rafael Bostick said the Fed should raise interest rates above 5 percent at the start of the second quarter and then keep them there “for a long time,” while San Francisco Fed President Mary Daley expects that. Rates peak somewhere above 5 percent before. The central bank is taking a break.

Equinor It increased by 0.53 percent to 313.85 Norwegian crowns, while Aker BP It strengthened 0.30 percent to NOK 305.90.

Explodes

front line It rose by 18.13 percent to NOK 133.60 as the most heavily traded stock for the day. On Monday evening, it was learned that the shipping company had dropped a bid for Belgium’s Euronav.

– The purpose of the merger agreement was to reach the merger. Given the situation, all parties involved should have found a reasonable solution, but unfortunately that was not possible, Frontline director Lars Barstad told Finansavisen late on Monday evening.

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DNB wrote in its morning report that it sees a potential upside of about 34 percent based on the completed acquisition.

in red

Kahoot This morning made its fourth-quarter earnings announcement, and the stock is now down 15.27 percent to NOK 17.31.

The tech company has increased sales and subscribers, but billed income still doesn’t live up to expectations.

PGS Inc., which also provided a snapshot of its fourth-quarter numbers, beat analysts’ expectations for revenue. Obviously, investors are still not convinced. The share, which on Monday rose a full 9.5 percent, is now down 7.62 percent to NOK 7.03.

another seismic company, TGS , ended Monday up 6.8 percent after showing their earnings forecast for the fourth quarter. The stock is now down marginally 0.21 percent at NOK 143.50. Pareto analyst, Bård Rosef, believes that this indicates that exploration investments for oil companies are becoming normal again.

Fellow investors Aasulv Tveitereid and Egil Dahl are TGS’ largest private shareholders. On Monday, they made a profit of 39 million on paper.

Speculation that Amazon will test bot warehouses from Car shop They set stocks on fire last week. On Tuesday, the stock fell 3.82 percent to NOK 24.41, but is still up just over 32 percent in the past week.