The arrows pointed downward on the Oslo Stock Exchange through the morning and noon Friday.
The main index is writing to 599.64, down 0.78 percent.
Shares and equity certificates are so far traded at around a billion kroner.
The development happens in the wake of the upswing in the US yesterday and Tokyo today, while the rest of Asia saw red.
Easier nervously before Fed
Leading European exchanges also falls Friday.
British FTSE 100 is down 0.68 percent, while the German DAX and French CAC 40 are down respectively. 1.25 and 0.93 percent.
The mood among investors is easier nervous ahead of the potentially historic monetary policy meeting of the Federal Reserve next week, where the US is expected to see its first interest rate increase in nine years.
– Most investors is low ahead of FOMC meeting (Federal Open Market Committee) next Wednesday and Thursday, writes chief analyst for Julius Baer in Asia, Mark Matthews, in a note Friday.
For CNBC in yesterday said Dan Farley, regional investment strategist for The Private Client Reserve at US Bank, the market in many ways trying to get over oil and on to next week’s events – that Fed.
– The greatest risk factor for the market the short is that the central bank raises, he said.
The oil price continues down
Oil prices fall on Friday at lunchtime.
Brent January oil falling 1.76 percent in today’s trading, to $ 39.03 a barrel, which is about 80 cents below the levels at closing yesterday.
WTI oil is down 1.47 percent to $ 36.22 .
Oil prices have fallen steeply since 10:00 o’clock, while the International Energy Agency (IEA) is out with a new monthly report.
There, IEA that global demand growth is expected to fall from 2.2 million barrels per day in Q3 to 1.2 million barrels per day in 2016.
Early indicators point to 1.3 million barrels per day in 4. quarter of this year.
Global oil production rose marginally to 96.9 million barrels per day in November, after a small upturn in OPEC production.
Total supply of oil is according to the IEA 1, 8 million barrels per day above the level one year ago.
IEA believes OPEC’s decision to reject its official production ceiling and keep the taps open is a de facto recognition of the reality of the oil market.
– The group has pumped full since Saudi Arabia a year ago convinced his OPEC colleagues to refrain from production cuts and to defend market share against a sustained increase in production outside OPEC, writes agency.
Statoil, Seadrill and DNO sees red
The impact is relatively small among the most traded shares.
Statoil falling 0.65 percent to 122.70 kroner after having notified a number Transactions with Repsol this morning. The company sells its including into the Gudrun field here at home, but buying into shale oil field Eagle Ford in the United States.
Seadrill continuing downturn and falling new 3.19 percent to 37.61 kroner.
Upstream reports according to TDN Finans that the company will be negotiating with the Dalian Shipbuilding Industry Offshore (DISC) on delayed delivery of jackup rigs “West Titan” and “West Proteus.”
Many stocks falls, and sometimes a lot. Yara is down 2.41 percent and Subsea 7 falling 1.21 percent, while the Salmar, TGS and Schibsted A is all down to 1-1.5 percent.
DNO is by 4.12 percent to 6 , 99 million, after Bank of America downgraded its recommendation on the stock from buy to neutral.
Hydro, Opera countercurrent
Norwegian Hydro goes like yesterday countercurrent, and rising 0.39 percent to 30.90 kroner.
Danske Bank Markets analyst Eirik Melle showed opposite TDN Finans yesterday to capacity cuts in China, and in addition that the US government has increased import duty on extruded aluminum products China.
NEL, with Øystein Stray Spetalen ownership, is up 1.82 percent to 3.92 kroner. The Board has appointed former REC Top Jon Andre Løkke as new CEO with effect from January.
We also note that Opera Software exceeds 1.89 percent to 51.20 kroner after Jefferies has taken up coverage with buy recommendation and price target 75 million.
The brokerage sees thus an upside of almost 50 percent.
We take otherwise with the Norwegian eases 1.87 percent to 304.90 kroner. Danske Bank Markets upgrading Norwegian from hold to buy, it goes according to TDN Finans forward an update Friday.
– We see significant value in Arctic Aviation Assets (Norwegian subsidiary) and the existing operations, states according to news agency.
Collapse in biotech stock
In the top of the list of losers we find Serendex Pharmaceuticals, which continues where it left off yesterday. The stock fell sharply yesterday after a message about the rights issue and the projects put on hold.
Today’s case is a whopping 47 percent to 1.59 million.
At the other end we find Dolphin the very top, with a rise of 27.27 percent to 0.14 million.
Serodus follows almost the plus 24.50 percent to 2.49 million.
Oljeservice trio EMGS and Polarcus also rising double digit by about 12 percent.
No comments:
Post a Comment