December 6, 2022

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Significant decline in the Oslo Stock Exchange - down two percent

Significant decline in the Oslo Stock Exchange – down two percent

He fluctuated this week on the Oslo Stock Exchange, which ended Thursday with a 3.6 percent increase. However, for the week as a whole, Norwegian stocks fell 3.7 percent in the most recent week.

On Friday, stocks are pointing lower again, with the main index on the Oslo Stock Exchange down 1.85 percent, led by declines in both US and Asian stock markets over the past 24 hours. What moves the markets:

  • The first earnings reports have arrived, and several tech companies like Tesla and Apple report that the problem in the supply chain, among other things, continues.
  • The US Federal Reserve warns that interest rates will be raised “soon”. This will make capital more expensive and generally have a negative effect on stocks and bonds.
  • In addition, “geopolitical insecurity” persists, as the fear of a Russian attack on Ukraine and its consequences politically and on the energy crisis in Europe raises fears.

The Oslo Stock Exchange also has very significant influence on individual companies.

PGS . massacre

Among them is the seismic survey company PGS, which makes a living from shooting and selling seismic data that helps oil companies find oil. PGS announced Thursday that it may already break the terms of the loan this winter, and is now working on another refinancing of the company. Analysts fear for the company’s future, and watered down their estimates. Investors pushed the stock down 57 percent on Thursday, and it will continue to drop more than 20 percent on Friday.

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Plastic recycling company Quantafoil raised the capital Thursday afternoon and evening. Although the fundraising took place within a few hours, it elicits backlash as it has now — before the company demonstrated that the technology worked.

The stock fell more than ten percent on Friday.

Troubled uke for Autostore

The week and year haven’t been easy for Autostore either, despite inventory up 12 percent on Wednesday. However, the company is down nearly ten percent this week, and up to 33 percent so far this year. On Friday morning, the company was up about 10 percent, but up about 1 percent at 11.30.

On Friday morning, the company announced one Victory in complex international litigation Between the leading robotics company and Ocado, a British company that offers its own storage system built on the same concept. The victory only applies to one case in a German court. In December, Autostore lost a huge and heated patent dispute against the same company in a US court.

The dispute is raging in the USA and the UK, among other places, over the rights to several patents related to cube-shaped storage robots that save space by stacking in height. It was invented by Autostore in the village of Nedre Vats in the 1990s.

From a peak level above 45 NOK in November, the price has almost halved before the opening of the Oslo Stock Exchange on Friday morning: NOK 23.3. (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.