The main index on the Oslo Stock Exchange ended Monday at 571.21, after a decline of 0.41 percent.
Shares and equity certificates were sold for 3.605 million.
The main index is thus down 5.9 per cent last month, but up 4.1 per cent last year.
Wall Street opened nervously for celebration day Friday, and disappointing used home sales and PMI figures have not helped to improve the mood.
A little stress in banks still
on the European continent also see the leading stock exchanges in red.
British FTSE 100 fell 0.4 percent, the German DAX 0.9 percent, while the French CAC 40 was down by -0.8 percent.
The relief over the results of the European Central Bank (ECB) stress tests European banks dominated trading this morning.
Fewer than 20 percent of Europe’s largest banks coat of tests conducted at the beginning, and many of them have arranged financing in the meantime.
But while stress tests went slightly better than expected, they told Reuters a reminder that much work remains.
– Banks face a significant challenge in the sector remains chronically unprofitable and have to take care of the exposure of 879 billion euros in non-performing or close non-performing loans, as this will bind significant amounts of capital, writes KPMG according to news agency in a note.
Goldman weighs o ljeprisen
oil market burdened Monday that Goldman Sachs has cut sharply its oil price estimates.
For Q1 next year jacks big bank Brent oil down from 100 to 85 dollars, while WTI oil adjusted downward from 90 to 75 dollars a barrel. For Q2 sees Goldman Brent oil at $ 80 and WTI oil at $ 70 a barrel.
– Goldman downgrade reinforces the poor outlook, says principal analyst for commodities Eugen Weinberg at Commerzbank in Frankfurt said.
Brent December oil falling 1.0 percent to $ 85.25, compared to around $ 85.80 when the stock exchange closed Friday. WTI oil goes back 1.1 percent to $ 80.14 a barrel.
At the Oslo Stock Exchange fell Statoil 1.4 percent to 152.80 kroner. DNB Markets has taken the stock from sell to hold, while Swedbank believes the stock is much more attractively priced now than a month ago.
Iraq exposed DNO pulled down 3.8 percent to 15.16 kroner.
DNB showed strength
The impact among heavyweights were mostly small, but we note that DNB rose 1.5 percent to 123 million at today’s highest volume.
DNB was the only Norwegian element among 130 stress-tested banks within and outside the euro zone, and has fulfilled the requirements of the so-called core capital by a wide margin.
DNB was one of three stocks that reached all-time high Monday (124.30 million). The other two were Borregaard and XXL.
On the positive side, we also find RCCL, which gained 2.1 percent to 421.60 kroner, while PGS rose 0.9 percent to 34.62 million.
REC Solar and Silicon duo went their separate ways. The former fell 1.5 percent to 85.50 million, while the latter rose 2.0 percent to 2.63 million.
Rate Fear lowered Seadrill
Seadrill fell 3, 1 percent to 150 million in the day when Carl Erik Steen resigned from the Board with immediate effect.
The market continues to worry for rates. Maersk recently joined his new drillships Maersk Venturer on a 45 day contract to $ 17,000,000.
This corresponds to a rate of $ 378,000 per day, while the historical peak holders lying around 650000-700000 dollar per day.
– They have probably been pretty desperate to cover their costs. But there are more who are in that situation, and there is little contracts in general, says analyst Janne Kverneland Nordea said.
Meglerhuset think rates will fall further, and well below that level.
Seadrill expecting a new deepwater drillship and a new semi-submersible deepwater drilling rig from the shipyard in Q4. These have not yet contracts.
Seadrill’s share price is now down 34.5 percent so far this year and 40 percent over the past year.
We also take that Schibsted fell 1.9 percent to 315.20 million, while Yara fell 0.5 percent to 300.50 kroner after Leif Teksum bought shares.
Oil Mosquitoes to the bottom
Relatively tops Interoil loser list.
The stock fell 28.6 percent to 15 cents after the company has decided to speed up preparations for the planned refinancing.
Arctic Securities shall also examine other strategic opportunities and Interoil aims to complete this process by the end of the year.
Interoil was one of five stocks that reached all-time low Monday (14 cents). The other four were Odfjell Drilling, Agasti , Weifa ogNickel Mountain Group – the latter two with Øystein Stray Spetalen owners.
Furthermore went Noreco and Oslo Axess-listed Cecon back respectively. 18.1 percent to 2.95 million and 15.1 percent to 45 cents.
The winners topped by Eitzen Chemical front Apptix.
The two ended the plus respectively. 30 percent to 3.90 million and 21.7 percent to 2.80 million.
We also note Funcom, which rose 8.0 percent to 4.74 million. The company partnered with Amazon to make LEGO Minifigures Online available at Amazon Fire TV.
Q-Free has marked itself positively and rose 3.4 percent to 12.15 dollars on a US contract and contract extension.
Songa Offshore advanced general 5.5 percent to 2.11 million.
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