Oslo Stock Exchange opens lower FinanceAffairs.com

Oslo Stock Exchange opens lower  FinanceAffairs.com

(issue updated)

Oslo Bors is set to open on Tuesday.

After 45 minutes of trading, the main index reached 1,286.09, down 0.28 percent, and shares worth NOK 843 million have been traded so far.

Oil price

The March contract for Brent oil on Tuesday morning fell 0.29 percent to $82.16 a barrel, while West Texas Intermediate crude fell 0.29 percent to $76.51 a barrel.

In comparison, a barrel of North Sea oil was trading at $82.40 per barrel at the end of the Oslo Stock Exchange on Monday.

Rising geopolitical tensions in the Middle East continue to raise concerns about supply.

Suvroo Sarkar, who heads the energy sector team at DBS Bank, said that if the matter escalates into a confrontation between the US and Iran with the imposition of tougher sanctions, we expect the price to remain within the $80-100 per barrel area for a while. Reuters.

moderation It fell 0.61 percent to NOK 299.95 Aker BB It returns 0.64 percent to NOK 279.30. Our energy It fell by 0.16 percent to 31.30 Norwegian kroner.

Researchers The stock price rose sharply on Friday and Monday, after the Quebec Superior Court upheld the company's request to temporarily halt parts of Bill 21, the law that exists primarily to end oil exploration and production, while the trial continues. On Tuesday, the stock fell 3.74 percent to NOK 2.19, but is still up more than 60 percent so far this year.

in red

Among the most actively traded stocks, drilling rig stocks fell the most. drilling drilling It has now fallen by 8.12 percent to NOK 70.20, while Drill the shelf The stock fell 7.60 percent to NOK 32.20.

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Cedrill The stock fell 1.27 percent to NOK 468.00. On Monday evening, the company announced that it had won two new contracts worth $97.5 million.

The giant Saudi Aramco is now halting its investments after receiving a directive to maintain its maximum capacity at 12 million barrels per day. per day instead of increasing capacity to 13 million barrels.

Tuesday is also difficult for seismic companies. Under the sea 7 Down 4.86 percent to NOK 141.80, as the second most actively traded stock of the day. TGS It fell by 2.60 percent to NOK 101.20, while PGS It fell by 3.37 percent to NOK 6.54.

Boarding

Car shipping company Wallenius Wilhelmsen Several multi-billion dollar contracts have been awarded. In addition, SEB has now raised its price target for the stock, and continues to act with a buy recommendation.

Wallenius Wilhelmsen rose 4.06 percent to NOK 101.20.

The brokerage firm itself also raised its target price Hoegh Autoliners To 155 Norwegian krone. The stock rose 2.51 percent to 106.20 Norwegian kroner.

Scatik The stock rose 1.70 percent to NOK 74.90. Fearnley Securities lowered its price target on Tuesday, but maintained a buy recommendation.

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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