Friday, August 28, 2015

Oslo Børs with full throttle towards 600 again – but losers plunged over 40 percent – OBI Online

Crisis! Correction! Fire Sale! Mondays! Investors were not afraid of Monday’s many negative stock market headlines. When was the stock exchange at the most down almost eight percent, while it ended down 5.2 percent. Instead, exchange sent up the next four days, so that week return actually was at plus 1.3 percent.

Those who hit bottom in the market during the Monday, when the index was as low as around 540, can enjoy a return of 9.7 percent.

Friday was volatile. The stock exchange opened up 1.8 percent, but was during the afternoon in minus before it turned up again.

The main index ended up 1.2 percent to 593.40.

The main index has fallen 5.3 percent over the past month, but increased 3.0 percent so far this year.

The recovery from the start was due to the frenetic oil rally last night, where WTI oil excelled with an increase of over 10 percent, as well as solid upturn in Asia exchanges.

Revenue totaled 4.6 billion.

Oil prices turn up
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Oil prices have turned up during the afternoon.

Brent oil rising 1.8 percent to $ 48.38 a barrel, while the American WTI oil put on 2.5 percent 43 , $ 68 a barrel.

– A short-coverage rally, led by crude oil, lifted commodities across the board. Better GDP than expected figures in the US were the main sparkle, even if force majeure on Shell’s exports from Nigeria enhanced recovery, writes ANZ Reuters in a note Friday.

Norwegian Oil Trading writes in an update that they expect The positive trend for Brent oil will be temporary, according to TDN Finans.

They warn that the decline may come as fast as the rise Thursday.

Opptur in oil and oil services
Oil service stocks have made it miserable the past year, but Friday was definitely a bright spot.

Seadrill showed the way with an increase of 11.6 percent to 62 million after risen sharply in New York yesterday. Fred. Olsen Energy ended in plus 7.8 percent to 38.98 million.

Statoil gained 3.9 percent to 126.80 kroner, while DNO continued up 5.4 percent to 9.04 million after yesterday’s rally .

DNO rose by 13 percent Thursday on reports that the Kurdish authorities should have verified that a first round of payments to oil exporters will be undertaken during the first half of September.

According to DNB Markets implicates the current valuation of the market that DNO receives about 20 percent of the amounts they under the agreement are entitled to.

“We assume that the ongoing obligations are honored and has a buy recommendation with a price target of 20 kroner per share, “writes brokerage in today’s morning report.

Aker Solutions
Aker Solutions was up 10.2 percent to 34.43 million.

UBS, according to TDN Finans upgraded Aker Solutions shares from sell to neutral.

Oil Service Analyst Haakon Amundsen in ABG Sundal Collier said earlier this week that Aker Solutions is the most obvious acquisition candidate within Norwegian oil service sector, but that also Subsea 7 may be a hot candidate.

It is Schlumberger’s acquisition of competitor Cameron International, which has opened the door for speculation about the Norwegian oil industry.

Strong from BW LPG
BW LPG jumped up 5.9 percent to 59.55 kroner after strong quarterly and a surprisingly high yield for the 1st half.

Friday sacrifices
Eqology, which also presented figures Friday, is in breach of its covenants and has a very strained liquidity. Now it is offering and cost-cutting. The stock plunged 42.2 percent to 1.19 million.

Golden Ocean on up
Golden Ocean’s CEO Herman Billung said after yesterday’s quarterly report – very affected by the turbulence in China – that he sees little downside in asset values ​​and believes it’s time to buy.

The share rose 11.6 percent to new 26 kroner Friday.

Clarkson Platou Securities upgrade Golden Ocean equities from neutral to buy in the wake of the presentation Thursday, reports TDN Finans.

According to analyst Frode Mørkedal in Clarkson Platou Securities asset values ​​now bottomed out.

Strong Hugo
Oslo Axess-listed Hugo Games went 29.2 percent to 9.37 million for the current quarterly and notification of share from both chief executive and chairman.

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