November 27, 2022

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The Oslo Stock Exchange closes higher

The Oslo Stock Exchange closes higher

The stock exchange day started with an increase of 0.16%. When the stock market closed on Wednesday, the main index was up 1.25 percent.

The price of oil continued to rise throughout the day, and a barrel of North Sea oil at the close of trading is trading at around $106 a barrel. an increase of 5.5 percent.

Oil prices are on the rise after Ukraine announced the closure of one of the country’s largest gas pipelines, with a third of Russian gas destined for European countries flowing. Ukraine’s gas network GTSOU has warned Russia’s state-owned Gazprom that it will stop the flow of gas to Europe via the Sukhranivka link as of 7:00 local time on Wednesday. BBC.

Equinor, the most traded stock of the day, rose 2.7 percent. Stocks are also pointing to the rise for Norsk Hydro, which is up 4.7 percent, while Røkkes Aker BP is up 4.2 percent.

There is a big rally in European stock exchanges on Wednesday. The Frankfurt DAX rose 1.3 percent, in the UK the FTSE 100 rose 1.2 percent, and the Paris stock index rose above 2 percent. The Stoxx Europe 600 collective index rose 1.43%.

Report rush

Investors continue to focus on the quarterly reports being submitted. On Wednesday morning, Mowi, Nel, Crayon and Carbon Transition presented the results.

TheMowi . joint stock company, where billionaire John Frederiksen is the largest owner, is distributing extraordinary dividends according to strong numbers. The main characters were already known. Mowi used to announce the size of the harvest and operating profit in advance. Operating profit ended at 207 million euros in the first quarterwhich nearly doubled from €109 million in the same period last year.

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Mowi’s stock rose over one percent just after the stock market opened, but turned around all day and the stock fell 0.66 percent.

Hydrogen Nile Corporation It presented first-quarter results on Wednesday. The company’s turnover was NOK 213 million, up from NOK 157 million in the same quarter a year earlier. This is a 36 percent increase. In addition, the company made a profit of 84 million NOK. It’s solid from the first quarter of 2021 when the company incurred a pre-tax loss of NOK 580 million.

The stock fell about five percent at the beginning of the trading day, but it was completely reversed and rose 3.87 percent.

Gassfraktrederiet Flex lng Operating profit before depreciation was $56 million in the first quarter of 2022 compared to $64 million in the same quarter a year earlier. It appears from the company’s quarterly report on Wednesday. The stock is down 2.7 percent in the opening minutes in Bursen, and is down 4.87 percent during the trading day.

Next Biometrics Group had sales of NOK 10.2 million in the first quarter of 2022, compared to revenue of NOK 14.1 million in the same period last year. The stock fell more than ten percent.

Carbon Transition, formerly earthquake firm Axsis Geo Solutions, had operating profit of $4.4 million in the first quarter of 2022, compared to $4.7 million in the same period last year. The stock rose 9.23 percent on the Oslo Stock Exchange on Wednesday.

IT company Crayon Group Holding received adjusted revenue of NOK 146 million in the first quarter of 2022, compared to NOK 93 million in the same period last year. The stake rose above three percent at the opening of the stock exchange.

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Excited about inflation numbers

On Tuesday, the three leading indices in the US opened with strong gains, and finished higher for two of the three major indices. It came after a strong start to the week, when all indexes fell more than 2% on Monday. The worst was the tech-heavy Nasdaq, which fell more than four percent. In the end, it ended up rising for two of the three leading indicators.

Stock market last week It was also heavy in the US, and ended down in all three major indicators. Part of the stock market turmoil stems from a record spike in US inflation, and the US Federal Reserve raised its key interest rate by 0.5 percent. This is the first time since 2006 that interest rates have been raised in two consecutive meetings, according to the Wall Street Journal.

Wednesday comes new Inflation figures from the US It showed that inflation for the month of April reached 8.3 percent and remains at a record high. The display of numbers led to huge volatility on Wall Street. At 4:30 on Wednesday, the three major indices rose.

high in asia

There was a recovery in Asia’s largest stock exchanges on Wednesday, led by China, based on lower Chinese infection numbers. This gives hope of relief in the very strict infection procedures. Shanghai has now reported a 51 percent drop in new cases, and the city is now nearing certain limits to ease measures.

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Chinese inflation was higher than expected in April. Producer prices rose by eight per cent – slightly higher than expected.

The consumer price index rose by 2 percent in April, compared to 1.5 percent in April. This was also above the consensus.(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.