Oil prices fell again after four weeks of gains as traders weigh the prospects of the US Federal Reserve raising interest rates in July as part of its fight against inflationary pressures, Bloomberg News reported Monday.
Dow Jones is on a winning streak
Wall Street finished mixed on Friday, but the Dow Jones train is still rolling. The industrial index ended for the tenth day in a row.
So far, second quarter results have been strong. According to data from FactSet, 78 percent of companies in the S&P 500 have beat expectations and many investors believe this strengthens the argument for a soft landing.
The S&P 500 rose 0.04 percent to 4,536.91, while the technology Nasdaq fell 0.22 percent to 14,032.81. The Dow Jones rose 0.01 percent to 35,229.37.
Read the full US commentary here.
rise in the Oslo Stock Exchange
On Friday, the main index on the Oslo Stock Exchange rose 0.6 percent, before closing at 1,230.79 points. Equinor ended up 1.1 percent at NOK 309.80, while Aker BP rose 1.1 percent to NOK 275.
Norsk Hydro reported an adjusted operating result before depreciation and amortization (EBITDA) of NOK 7.1 billion for the second quarter, compared to NOK 11.6 billion from the same period last year. The company also managed to post-tax profit of NOK 5.1 billion, compared to NOK 11.1 billion last year. The stock fell at most 3.4 percent on Friday, but ended the trading day down 2.2 percent.
On Thursday, PGS rose more than 27 percent after securing commitments for a $75 million loan facility to partially refinance bond debt that expires in March 2024. The stock fell 2.2 percent to NOK 6.91 on Friday.
On Friday, it became known that Education Minister Ola Borten Moe had breached ethics rules by purchasing Kongsberggruppen arms stocks. The stock closed up 0.9 percent at 454.80 Norwegian crowns.
Finnish technology company Tietoevry fell 7.5 percent to NOK 252.60 after providing quarterly figures, joining losers on Friday.
Read the final comment in full here.
- Japan: PMI July, at 02.30
- France: PMI July, at 09.15
- Germany: PMI July, at 09.30
- European Monetary Union: PMI July, at 10.00
- United Kingdom: PMI July, at 10.30 am
- USA: Chicago Fed Index, June, at 2:30 p.m
- United States: July PMI, at 15.45
- Frøy: EGM, at 09.00
- Kingfish Corporation: Extraordinary General Assembly, 2 p.m
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