The arrows pointed sharply upward on the Oslo Stock Exchange on Wednesday.
The main index ended at 581.79, up 1.84 percent.
The index has thus fell 1.96 per cent last month, but is up 1.00 percent so far this year.
The turnover ended today at 3.2 billion.
Oil prices in plus
Oil prices have turned up after being in the minus earlier in the day.
Brent November oil rises by close of trading with 1.39 percent to $ 48.90 a barrel, after hovering at around $ 48.15 at closing on Tuesday.
WTI- oil is up 1.24 percent to $ 45.79 a barrel.
Figures from the American Petroleum Institute (API) showed on Tuesday that US crude oil store rose 4.6 million barrels to 457.8 million in the week ended 25 September. Analysts had told Reuters expected a warehouse building on more modest 102,000 barrels.
– We expect that US oil stocks will fall, due to lower production. American production should continue decline with lower rig counts, says investment analyst Daniel Ang at Philip Futures in Singapore in a note Wednesday.
Statoil rose today 3.16 percent to 124.10 kroner.
REC rocket
After serving several hundred million kroner on REC last year, Øystein Stray Spetalen now bought millions of shares in REC Silicon.
For a recent shareholder list in REC Silicon stated that Tycoon Industrier, which is 100 percent owned by investor Øystein Stray Spetalen, last week bought 10 million shares in the company. Spetalen is thus 29th largest shareholder.
Spetalen effect has been great in the stock Wednesday and REC rose to end 8.12 percent to 1.49 million.
DNB rose on the recommendation
DNB rose today 2.79 percent to 110.70 kroner at today’s second highest volume.
Deutsche Bank, according to TDN Finans upgraded the stock from hold to buy .
Norwegian ended up 2.75 percent to 333 kroner after fight contract with the military.
DNB Markets has raised its price target on the frontline from 26 to 28 million, and repeated purchase recommendation. Shares rose thus 6.72 percent to 23.20 kroner.
DNO was otherwise up 4.34 percent to 9.01 million, while the Norwegian Hydro rose 2.87 percent to 28.36 kroner.
Predicts fall for TGS and PGS
Broker giant UBS reiterates salgsanbefalnigen on PGS, and cut price target from 38 to 23 million, according to TDN Finans.
Course objective on CGG cut from 4.00 to 2.50 euros, while TGS-NOPEC price target cut from 155 to 145 million.
It appears that the seismic market is in steep decline. EBIT estimates for 2016 for the entire sector to be cut to reflect this.
PGS fell today 2.30 percent to 32.73 kroner, while TGS ended down 1.26 percent to 157.30 kroner.
Taking down Seadrill
UBS also cut the price target on Seadrill from 95 to 55 million and reiterates neutral recommendation, according to TDN Finans.
It is predicted that the rig market will continue to be subdued at least the next two years, as a result of weak demand.
“For rigs that can work, associations likely to be of short length and / or significantly below current rates,” said it.
The share rise still 0.28 percent to 49.65 kroner.
Ladders and falls most
In relative terms rose most North Energy Today, with a rise of 29 percent to 1.29 million.
Apptix came closest with a rise of 23.83 percent to 2.65 million, while Zoncolan step third most with 16.67 percent to 70 cents.
At the other end we find Oslo Axess-listed Badger Explorer at minus 12.50 percent to 2.10 million, only beaten by African Petroleum, which fell 13.79 percent to 25 cents.
It was currently known that Stuart Lake resigns as chief executive of African Petroleum with immediate effect due to health reasons.
Jens Pace, who now serves as Chief Operating Officer (COO), acquires Lakes job.
Pace has been with the company since 2012, and are expected to gradually take place on the board.
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