May 23, 2022

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The Oslo Stock Exchange fell on the penultimate trading day of the year - Autostor rose sharply

The Oslo Stock Exchange fell on the penultimate trading day of the year – Autostor rose sharply

The rally on the Oslo Stock Exchange ended on Wednesday. The main index on the Oslo Stock Exchange fell 0.45 percent on Wednesday.

The main index developed strongly after Christmas, ending the day at 1199.3 points. This is nearly four percent of the new top list of the main index on the stock exchange.

At the close of trading, the price of a barrel of North Sea oil exceeded $78.8, which represents a decrease of 0.4 percent.

Today’s biggest winner is bot storage company Autorstore. The company rose 13 percent on Wednesday, which corresponds to an increase in market capitalization of just over NOK 18 billion on the day.

Autostore was the largest IPO of the year on the Oslo Stock Exchange and the second largest in history. Prior to the listing, the company was valued at NOK 103 billion. Since the listing in October, the stake is up about 13 percent and is valued at NOK 124 billion.

Insr Insurance Finanstilsynet notified on Tuesday that the company did not meet the minimum capital requirements.

At the same time, an application has been made for a claim waiver during the termination of Insr’s insurance business, with the goal being to transfer all insurance risk from Insr and return the insurance license. Insr Insurance shares are down about 6 percent from Wednesday.

The biggest stock market news yesterday, on a quiet day away from Christmas, was the drilling company Borr Drilling’s completion of its Issued about 264 million Norwegian kroner.

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The capital increase was implemented at a subscription price of NOK 19.97. Borr Tor founder Olav Trøim has subscribed to the shares to approximately NOK 26 million and increased his ownership stake from around six to seven percent.

When the stock exchange opened on Tuesday, Borr Drilling’s stock was up over eight percent, but after the trading day, the rally was completely reversed. At the close of trading, the stock was down more than 2.3 percent.

On Wednesday, Burr’s stock was down about 4 percent.

The Saga Pure . is controlled by Øystein Stray Spetalen Sold at Bergen Carbon Solution for Carbon SolutionThe company wrote in a stock exchange announcement on Tuesday. Sage Pure sold 500,000 shares and more than eight million shares remained, which is 24 percent of the company.

Bergen Carbon Solutions has had a volatile week in the stock market so far. The company rose 17 percent on Monday, before declining again to 15.5 percent on Tuesday. On Wednesday, the stock rose 0.2 percent before close of trading.

CO2 capture company Capsol held its first trading day at Euronext Growth on December 20. On Tuesday, the price was up 11 percent, but the stock is down ten percent since the listing. On Wednesday, the stock fell 1.2 percent.

The company wrote in a public market update Wednesday morning that it is receiving interest in technology from around the world and especially from the waste management industry. In addition, the company wrote that it is considering investing in the development, production and delivery of mobile carbon capture test units.

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GOLLERALY

History has shown that US stock markets usually rise by about 1.5-2 percent during the last five trading days of the year and the first two trading days of next year. This happened in 80 percent of the years from 1928 to today, SEB chief economist Robert Bergqvist wrote in a morning report.

The Standard & Poor’s 500 Index, which includes 500 of the largest companies in the United States, closed on Tuesday, down 0.1 percent. Thus, the index is up 1.3 percent so far this week with five days left of the so-called “March of Santa Claus.”

The Dow Jones Industrial Average rose 0.26 percent and the Nasdaq Technology Index fell 0.56 percent.(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.