Oslo Stock Exchange opens as expected sharply from the start Friday.
The main index is writing to 544.36, after rising by 2.6 percent.
Shares and equity certificates traded 739 million.
The development happens in the wake of the recovery in the US yesterday and stock market rally in Asia until today.
The increase is primarily with a sharp upswing in oil prices since yesterday afternoon.
US and Asia rose also that the European Central Bank (ECB) and central bank governor Mario Draghi yesterday suggested that monetary policy can come up to reconsideration at the next meeting in March.
Leading European exchanges are also rising noticeably Friday.
British FTSE 100 is up 1.8 percent, German DAX 1.7 percent, while the French CAC 40 climbing 2.1 percent.
Cool oil price rally
The main trigger behind the rise in oil prices was that yesterday’s rally in financial markets have given pessimistic investors reason to secure gains on record short positions.
– Fundamental conditions remain weak, the governor continued concern for economic growth and its impact on gasoline demand, so this is probably more a sign that things have been exaggerated than anything else, said analyst Gene McGillian at Tradition Energy in Connecticut told Reuters.
Cold weather in Europe and the United States also provides support to oil prices, which continues rally Friday. In the US, reported heavy snow storm on the East Coast at the weekend.
Brent March oil rises new 4.0 per cent ($ 1.16) to $ 30.41 a barrel in morning hours, after standing around in $ 28.30 a barrel at closing in Oslo yesterday.
WTI oil was up 3.6 percent to $ 30.58 a barrel.
ANZ Bank rather however cold water in the blood of the optimists.
– More stable global markets will probably bring the speculative buyers back on the raw materials side, which has gone on huge losses in recent weeks. But these rallies will likely be short-lived, writes the bank told Reuters in a note.
Revenge for oil stocks
Statoil leads the way, and rising all the 5.6 per cent to 107 , 20 million, although Moody’s considers downgrade of debt.
DNO adding 10.6 percent to 4.96 million, Seadrill 9.5 percent to 18.39 million.
Analysts forecasts that the latter faces a major restructuring, but Seadrill CEO Per Wullf insists dog facing DN that he eyes some doomsday.
Otherwise, the oil we note that PGS pops up 6, 4 percent to 24.77 kroner after receiving a beating earlier this week.
But even if oil-related shares thus rises sharply today, we must remind you that there are still Laaangt again to top .
In addition, marking the NEL, with Øystein Stray Spetalen ownership, with an increase of 5.0 percent to 3.54 million, while REC Silicon put on 6.9 percent to 1.37 million.
Norwegian Hydro, Subsea 7, Frontline and TGS is up 3.4 percent.
We also take that Protector Forsikring slams up 7.8 percent to 72.25 kroner after notification of its best ever January 1st maturity.
Very broad upswing
The current upturn happens mildly on a broad basis.
Asetek is the most traded shares falling – the volume is so far below the 100,000 kroner. The stock is down 3.7 percent to 18.20 million.
Most of all ladders Western Bulk, which draws up 14.6 percent to 1.55 million.
Virtually located Oslo Axess-listed PCI Biotech, which pops up 22.7 percent to 5.40 million at the happy message about cancer study.
The battered supply company Farstad Shipping and Fred. Olsen Energy is up respectively. 10.6 percent to 14.60 million and 11.1 percent to 28 million.
A very short list of topped by Oslo Axess-listed and thinly traded RomReal, falling 18.1 percent to 1.72 respectively.
Ekornes and Norwegian Property is among other stocks that look red.
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