Overseas stocks rise sharply on agreement

Overseas stocks rise sharply on agreement

– Price differences between the West and the East are still wide, which means Asian buyers will continue to accept every load they can get. With the FFA market pricing at rates of $100,000 per day during the first quarter – and still close to $80,000 per day for 2024 – we still expect significant positive changes in estimate, Pareto Securities wrote according to TDN Direkt in an update.

Oilco Drilling Company is today’s winner so far after the company rose more than 300 percent to NOK 19.10. The strong rise comes after the company, according to a statement on Thursday, succeeded in the second of two arbitration cases against the Keppel FELS shipyard and obtained $43 million.

Cedrill It rose 1 percent on Friday after DNB Markets reiterated its buy recommendation and price target of NOK 600 per share in an update. Another stock related to the platform, Northern pitsjumps by 29.7 percent.

Tico 2030 It rises by 5 percent after the announcement The company is on track to deploy its first client In the first half of 2024.

Norwegian Refugee Council Group It is on the list of losers, with prices falling by about 12.6 percent after the quarterly figures were presented on Friday. The volume of orders amounted to NOK 773 million, compared to NOK 2.2 billion in the same quarter of last year. DNB Markets had previously expected orders worth 1.9 billion.

Other companies are also punished according to their reports. Half group It falls by 3.7 percent Byrom innovations Nearly 2 percent. Elliptical Laboratories It decreased by 1.5 percent.

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Standard width It fell by 8.9 percent (47 euros), in line with the fact that on Friday the stock will rise, excluding dividends, to 50 euros.

Oil price

Oil prices rose slightly on Friday.

The January Brent oil contract is at $81.65 a barrel around lunchtime. Barrel, up 0.3 percent since midnight. In comparison, the price was $80.62 per barrel when Oslo Børs closed on Thursday. Prices are heading towards their first positive week in five weeks, supported by expectations of a possible agreement on further OPEC+ production cuts.

The price of US light oil, WTI, rose by 0.3% to reach $76.65 per barrel. barrel.

Dark clouds threaten demand growth next year, so the market needs greater supply-side constraints, analyst Gao Mingyu of SDIC Essence Futures tells Bloomberg.

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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