Oslo raised Stocks with US inflation figures

Oslo raised Stocks with US inflation figures

The Oslo Boroughs are hovering around zero on Thursday afternoon, after dropping significantly earlier in the day.

The stock market got a boost after US inflation numbers came in lower than expected. Inflation in the United States was 7.7 percent in October, while growth of 7.9 percent was previously expected. Core inflation was also lower than expected at 6.3 percent.

On the Thursday morning before the stock exchange opened, Statistics Norway published new inflation figures for October. Inflation in Norway ended at 7.5 percent in October, Which was much higher than expected.

In Thursday’s Handelsbanken Morning Report, economists write that recent inflation numbers have sent the Norges Bank off track.

Our consensus forecast is that core inflation rose further to 5.5 percent in October, while the Norges Bank forecast 5.0 percent. It is not a given that Norges will now have to return to larger rate increases (50 basis points), but this rise in inflation will clearly raise the trajectory of interest rates, he writes as well.

On Wednesday afternoon, it was also announced that the first part of the Flyr crisis issue has been completed. The board approved the shareholders’ plan and succeeded in raising NOK 250 million. The 250 million was obtained by issuing new shares in a directed issue, that is, a capital increase aimed at a smaller group of investors.

The stake was up nine percent at 2:10 p.m.

The most traded stocks so far on Thursday are Equinor and Aker BP, both of which are down. On the other hand, Rec Silicon gained 4.2 percent in the negative stock market.

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Equinor postpones investment decision

Before the opening of the stock market, there were several updates from the companies. Among other things, Equinor is postponing the investment decision on the disputed matter Project Westing. A large development in the Barents Sea became much more expensive than expected. Equinor also mentions uncertainty over the terms of the framework after the government proposed tightening favorable tax rules.

The share is 1.7 percent.

In addition, several companies presented their results for the third quarter.

The publicly listed investment firm Saga Pure, of which investor Austin Stray Spitalin is the largest owner, reported operating profit of minus 113.5 million NOK in the third quarter. The operating result for this year so far has been 76.2 million NOK. The share is 4.0 percent.

Selvaag Bolig, one of Norway’s largest housing developers, generated operating income of NOK 905 million in the quarter, compared to NOK 887 million in the same quarter last year. Profit before tax ended at NOK 107 million in the third quarter.

The stake fell 2.1 percent on Oslo Bourse negative.

A new decline in the American market

Yesterday ended with a new decline for the US stock markets.

At the close of trading in New York, the main indicators looked like this:

  • The broad S&P 500 index fell 2 percent.
  • The Dow Jones Industrial Average fell 1.95 percent.
  • The technology-heavy Nasdaq Composite Index fell 2.5 percent.
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There is a nervous atmosphere regarding the US inflation figures today, which will arrive on Thursday evening. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links that lead directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.

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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