Broad market rises in Oslo – oil services giant is leading the way – OBI Online

The arrows pointing upward in early trading on the Oslo Stock Exchange on Thursday.

The main index is writing to 588.21, after rising by stalling percentage.

Shares and equity certificates are traded for 370 million.

The main index is thus down 8.0 per cent last month, and up 2.0 percent so far this year.

The development happens in the wake of solid upturn 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.

British FTSE 100 is up 1.4 percent, German DAX 1 , 3 percent, while the French CAC 40 put on 1.1 percent.

– Oil prices have escaped
Oil prices are somewhat on the defensive Thursday.

Brent October oil stands at $ 50.19 a barrel. It is down 0.6 percent in today’s trading, but slightly up from around $ 50 at closing in Oslo yesterday.

WTI oil pulls down 0.5 percent to $ 46.03 a barrel in today’s trading but has also risen slightly from around $ 45.40 when the stock exchange closed on Thursday.

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.

Norwegian facilitates
on the Oslo Stock Exchange Statoil rising 0.8 percent to 123.80 kroner .

The recovery is broad. Among the 22 most traded shares is only Idex falling – 3.5 percent to 7.00 million.

Subsea 7 shows the way, and rising 2.8 percent to 72.20 kroner after HSBC upgraded from sales to neutral.

Norwegian eases 2.5 percent to 376.20 kroner at the highest volume so far. Discount giant Easyjet has jacked up its guidance after record month.

DNB draws up 1.3 percent to 116.30 kroner.

Front Line marks positively at first, and put on 4.3 percent to 22.28 kroner.

Bankruptcy candidate to lead
Relatively speaking we find derided Dolphin Group high on the list of winners with a rise of 5.6 percent to 57 cents.

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.

The reason for today’s rise is that Dolphin at current Pareto presentation stating that around 90 percent of vessel capacity is covered in Q3, while around 55 percent is covered in Q4 2015.

Western Bulk rises most so far – 9.4 percent to 2.90 million.

We also take that BW Offshore rising 6.7 percent to 3.67 kroner after insiders have uploaded.

A relatively short list of topped by Oslo Axess-listed Next Biometrics, which pulls down 10, 5 percent to 42 million.

Navamedic falling 6.7 percent to 10.50 million, while Jinhui are minus 4.2 percent to 9.77 million.