Scatec rises in the flat stock market | FinanceAffairs.com

Scatec rises in the flat stock market |  FinanceAffairs.com

Yara stands out positively with an increase of just over one percent, while Norwegian and Telenor stand out negatively with a decline of just over one percent.

Oil prices fell slightly

Oil prices fell somewhat on Friday morning after recovering on Thursday evening, but are still on track for their strongest week since October. Support comes from geopolitical tensions, a sudden large drawdown of inventories in the United States, and the prospect of new stimulus packages from major importer China.

The price of Brent crude (March contract) is 82.05 US dollars, and the price of oil fell 0.5 percent (39 cents) since midnight, but rose from 81.23 dollars per barrel. barrels when Oslo Borse closed on Thursday. West Texas Intermediate crude fell 0.7 percent to $76.83 a barrel.

Sources told Reuters that China has asked Iranian authorities to help curb attacks by the Iranian-backed Houthi militia on ships in the Red Sea or risk damaging trade relations with Beijing. But the militia commander does not allow himself to be intimidated, and said on Thursday that attacks against Israeli ships will continue until emergency aid reaches Palestinians in Gaza.

On the Oslo Stock Exchange, Equinor shares rose 0.2 percent and Aker BP rose 0.6 percent. Nordea Markets lowered the fair value estimate for Equinor from NOK 360 to NOK 320 and reiterated the Hold recommendation, at the same time lowering the price target for Aker BP from NOK 380 to NOK 370 and reiterated the Buy recommendation.

Quester pool

Questerre's stock jumps more than 30 percent after receiving interim permission for, among other things, exploration and production in Quebec to date. The authorities are moving towards banning oil and gas extraction in the province, but as long as the case continues in court, the company has now been allowed to continue.

See also  McDonald's employee reveals: - - rude

We also note that Elektroimportøren recovers slightly after yesterday's earnings announcement and warning about possible violation of loan conditions, rising above 3 percent.

On the list of losers, Smartcraft fell more than 3 percent to NOK 25.10, so the market does not care much that Berenberg raised the price target from NOK 26 to NOK 32 and repeated its buy recommendation.

Archer started, but declined after updating investors on the record quarter ending in 2023. Sparebank 1 Markets notes that adjusted operating profit (EBITDA) of NOK 33.4 million came in above consensus of NOK 29 million, while 2024 guidance was at The upper end of expectations.

“We are likely to raise our 2024 EBITDA estimates by approximately 5 percent following today's news,” according to a TDN Direkt update from the brokerage.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

Leave a Reply

Your email address will not be published. Required fields are marked *