May 19, 2022

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Rise in the Oslo Stock Exchange - Quantafuel rises sharply

Rise in the Oslo Stock Exchange – Quantafuel rises sharply

On Thursday, the Oslo Stock Exchange opened with an increase of 0.39 percent.

Plastic recycling company Quantafoil is up more than seven percent since the start on Thursday. Before the exchange opened, the company announced that it had started production at its Skive plant in Denmark. According to the report, the newly installed components will perform as expected, and the company has already had several days of production.

Quantafuel is listed on Euronext Growth and has a market capitalization of over NOK 4 billion. The stock price was hit hard last year and has fallen so far this year by more than 40 percent.

The biggest loser on Wednesday was housing platform firm ProSev, which fell 42.5 percent after dropping more than 20 percent on Tuesday. This happened after it became known, among other things, that Danske Bank sold a lot of shares after the reconstruction last week. On Thursday, Prosafe’s share continued to decline, falling more than 20 percent from the start.

Before the stock market opened on Thursday, Prosafe’s market capitalization shrunk by more than NOK 3.8 billion this week.

Aker BP stock also declined during Wednesday’s trading. In conclusion, the stock fell more than six percent. On Tuesday, it was announced that Kjell Inge Røkkes Aker BP will acquire Lundin Energy’s oil and gas business. When the news came out, the stock rose above six percent, but the share price fell again on Wednesday. On Thursday, the stock price fell more than one percent at the opening.

On Wednesday, a number of brokerages updated their price targets and recommendations for Aker BP. Udvar Borgan, an analyst at Carnegie University Target price reduced from 400 to 375 kronerAnd also keep a buy recommendation.

Omicron Enhanced Studies

It also ended Wednesday with a rise in major indices in the United States. The broad S&P 500 Index rose 1 percent, the Dow Jones Industrial Average rose 0.74 percent and the Nasdaq Technology Index rose 1.13 percent.

In a Thursday morning report, analyst Lina Franson at SEB writes that market risk appetite is increasing after higher results from omikron studies. At the same time, this week’s trading is characterized by low market liquidity with the approach of the Christmas holidays.

Yesterday, the vaccine company, Pfizer, received emergency approval for Paxlovid Corona pills from the US authorities. The stock rose more than one percent on the news.

The drug, developed by Pfizer, is the first approved for use at home. Franson wrote that clinical studies showed that the use of baxlovid reduced hospitalization by 89 percent when non-immunized subjects in the risk group took the drug within three days after the first symptoms appeared.

oil prices

Oil price continues to rise after falling on Monday this week. Thursday morning, one barrel of North Sea oil, which is used as a reference for oil trade around the world, was burned and was trading at more than $75 a barrel.

Several factors contributed to this rally, including a weak dollar and a drawdown in US oil inventories, NordNet analyst Roger Bernzen wrote in a morning report on Thursday.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads 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.

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