There have been a nice Thursday at the Oslo Stock Exchange. At lunchtime is the main index of 590.03 points, up 1.34 percent. It is so far traded shares for 1.05 billion.
The development happens in the wake of solid rally on Wall Street yesterday and mostly rising Asian exchanges earlier in the day. China bourses will be closed Thursday and Friday due to marking the end of World War 2.
Leading European exchanges rises.
Petroleum / Statoil
Oil prices are somewhat on the defensive Thursday. A barrel of North Sea oil traded for $ 49.98, down 1.03 percent.
The oil market is characterized by a stronger dollar, not to mention a surprisingly strong stock-building in the United States. US crude oil inventories rose by 4.7 million barrels last week until August 28, against expected only 32,000 barrels.
– Although oil has escaped this round of pessimism, then release it maybe not from the declining refinery capacity we will see over the next few weeks, writes Singapore-based Phillip Futures told Reuters in a note Thursday.
– On the other side we see a fall in American production, which is healthy for prices in the longer term. Thus, a left infer that the problem of oversupply becomes smaller, it added.
Statoil rising 1.06 percent to 124.10 kroner.
Norwegian
7,060,000 passengers traveled with EaasyJet August. This is an increase of 6.8 percent compared with August month a year ago.
As a result of strong figures jacks budget airline up guided profit before tax for 2015 of 620-660 million pounds, to 675 to 700 million pounds.
Norwegian rising 2.18 percent to 375 kroner.
Bankruptcy candidate to lead
Relatively speaking we find derided Dolphin Group high on winners with a rise of 24.07 percent to 0.67 million. The company was in mid-August characterized as a bankruptcy candidate in Finance newspaper.
– A common feature for all companies that go bankrupt, is that they have debts. Companies without debt can not go bankrupt. Dolphin has the characteristics of a bankruptcy candidate, wrote the paper, referring to the seismic company has run on while oil prices halved.
Analysts Knut Erik Løvstad and Håkon Johansen Fondsfinans ståltro on seismic company. In an update Thursday maintains the buy recommendation and target price of 2.50 kroner.
The brokerage look favorably on cost savings. Dolphin is working on plans involving savings of a further $ 65 million.
Fondsfinans is also positive that the company is working with travel $ 50 million for investments in multi-client library.
Subsea 7
Subsea 7 rising 1.57 percent to 71.35 kroner after HSBC upgraded from sales to neutral.
Frontline
It is also worth noting that Frontline rises entire 5.71 percent to 22.58 kroner.
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