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Strong quarterly results attracted small savers to oil companies - Aker BP was the most popular among Nordnet clients

Strong quarterly results attracted small savers to oil companies – Aker BP was the most popular among Nordnet clients

The year so far in the stock markets can be compared to the bouncing ball – the bouncing ball fell at full speed towards the ground – which it hit in mid-June – after the “earth effect” accelerated again. Whether it will continue to climb is up to those with a fortune teller to decide, but the fact remains that July was the best month for stocks for the S&P 500, global stock markets as a whole, and home Oslo Stocks since November 2020.

This comes despite persistent reports of persistently high inflation, pressure on operating margins, news of extreme heat waves, energy crunch, food crunch and fear of sovereign debt defaults in emerging markets.

After a violent half year in the stock market, the lure of positive returns has made investors look to convert stocks specifically (fixed) stocks. Figures from online broker Nordent show that shares were bought net in July at NOK 1 billion – and shares traded for NOK 25.4 billion.

Oil and gas companies with high profit margins and dividend prospects

Among Nordnet’s clients, the most attractive was the petroleum company Aker BP – its net purchases amounted to NOK 272 million. At the beginning of June, it rose more than 50 percent compared to the beginning of 2022, after continuing to rise in income, before dropping to less than 20 percent during the summer.

Karl Jonny Hirsvik, CEO of Aker BP, said during the quarterly figures presentation just two weeks ago Yield should go up The fact that the ticket to the dividend party is now much lower than it was during the peak at the beginning of the summer has drawn investors to join the company.

With gas scarce in Europe and energy prices in general, petroleum companies are generally pumping oil and gas at very high margins – which is reflected in the generally strong quarterly figures. Investors have responded by flocking to oil companies, and Nordent’s top ten list of top-buyers is also black.

– This indicates that there is still a great desire to invest in oil and gas companies. The quarterly figures and the steep profitability they show indicate that many dividend investors have now also taken an interest in the industry, Nordnet wrote in a monthly summary.

profit protection

However, in the list of the top ten selling stocks, one finds more mixed declines.

This was topped by Rec Silicon, which sold in July net for NOK 43.6 million. The company, which produces silicon to make solar cells, so far this year has fluctuated up and down the Oslo Boroughs — making the stake popular with traders. Since mid-July, the share has increased by nearly 20 percent, and the large turnover, according to Nordnet, indicates that many have taken a profit.

Europris is also among the most sold stocks in July – here too one can doubt the protection of earnings. The stock is down at most 32 percent from its peak in mid-January this year, but reports are that the company has been doing well Best second quarter ever It caused the stock to accelerate in the second half of July. This means that the share is down about 11 percent overall from its peak in January.

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Another company that appears on the best-selling stock list is Norsk Hydro. The company fell sharply through mid-July, after concerns that inflation, rising gas prices, bottlenecks in global supply chains and faltering demand would hamper the company’s earnings. However, Norsk Hydro reported the second quarter with Four times the big result As in the same period last year – and the stake gained momentum in Oslo Bors after that.

Optimism based on stagnant aggregate numbers

Stagnant macro-number news – itself an indicator that the economy is slowing and that higher interest rates are having the intended effect – means that investors are unlikely to expect upcoming interest rate hikes to be as violent as their predecessors.

Combined with surprisingly strong quarterly numbers for many of the largest US companies, this has fueled optimism in stock markets – part of the explanation behind the overall rally in July. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using the links that lead 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.