The main index on the Oslo Stock Exchange climbed 2.56 percent today before ending at 597.13 points. It was traded shares for 3.8 billion.
During the last month, the Oslo Stock Exchange fell 6.54 percent while the main index is up 3.66 percent so far this year.
Major companies such as DNB, Hydro and Telenor could show to a surge of respectively 3.66 percent, 2.09 percent and 2.14 percent.
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.
Petroleum / Statoil
A barrel of North Sea oil traded for $ 51.18, up 1 , 35 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, while it was expected expecting an increase of modest 32,000 barrels.
– Although oil has escaped this round of pessimism, release it may not escape 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 climbed all 3.26 percent to 126.80 kroner.
Norwegian
7,060,000 passengers traveled with EaasyJet August. There 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.
The optimism spilled over to Norwegian who stopped at 379.50 million after an increase of 3.41 percent.
Bankruptcy candidate to lead
reviled Dolphin Group enthroned on top of the winners list with a rise of 20.37 percent to 0.65 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 gained 2.99 percent and ended at 72.35 kroner after HSBC upgraded the stock from sales to neutral.
Frontline
It is also worth noting that Frontline climbed 5.34 percent to 22.50 kroner.
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