January 28, 2023

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The day of the hated sectors in Oslo Bors – ESG and technology at the top

Oslo Poor’s started the first trading day of the year higher and ended the main index at 1,197.10, up 0.68 percent.

oil price

Brent Oil was even lower limp matching Most of Monday it stood quietly, up 2.6 percent at $85.99 a barrel when the stock market closed. The same applies to West Texas Intermediate crude, which rose 2 percent to $80.44 a barrel. barrel. On the other hand, a barrel of North Sea oil traded at $84.51 per barrel at the close of the Oslo Stock Exchange on Friday.

Nordent analyst Roger Berntsen noted in his morning report that 2022 was a very turbulent year for oil prices. It first rose to record highs in March after Russia invaded Ukraine, before falling again at the end of the year due to slowing global growth.

Arctic Securities is lowering price targets on Equinor, Aker BP and Vår Energi based on lower oil and gas prices, while maintaining a Buy recommendation.

Equinor jumped 0.5 percent, while Aker BP It ended up being 3.5 percent. our energy were strengthened by 2.4 percent, and DNO developed 4.9 percent.

Shipping

The freight market was hot in 2021 and 2022 and it brought investors fantastic returns. However, experts do not think that it will be easy to get a return in 2023:

– We don’t think it will be easy in 2023, says Eric Havaldsen, Head of Analysis at Pareto Securities.

However, the marine freight index rose 2.6% on Monday. Product carrier company Hafnia The share was the highest in the past year.

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– Hafnia had a weak end to a great year ending in December, but was still up more than 200 percent (with dividend reinvestment) in 2022. Prices have fallen in the last weeks of the year, but sanctions on Russian products are only a month away. , so we’ll hold inventory for January, says Havaldsen.

With European sanctions imposed on Russian oil products, ship brokerage Lorentzen & Co expects demand for miles for crude oil tankers to increase by 10 percent this year and by 12 percent for product tankers, increasing estimated capacity utilization to 90.3 percent. for crude oil tankers. fleet of crude oil tankers and to 93.9 percent of the fleet of product tankers.

“This is also why we appreciated Tanks’ strong earnings for the new year, albeit with huge fluctuations in time and space,” write Lorentzen & Co.

Hafnia shares rose 3.8 percent on Monday.

The gas charging line leaves the portfolio Cole Corporation After another month of decline and a weak period at the Gas Charges meeting.

– We continue to believe the stock looks good on an absolute basis and against similar companies, and there are prospects for announcing a strong new contract soon. Despite that, we’re taking the cut out of the portfolio because we’re now entering a seasonally weak period for LNG rates, says Havaldsen.