The arrows pointed downward on the Oslo Stock Exchange through the day Friday and steadily deteriorating oil prices has given increasing fall through the day.
The main index ended the day well below the 600 threshold, with a fall of 1 , 58 percent to 594.81.
Shares and equity certificates were today traded at around 3.39 billion.
Easier nervously before Fed
Leading European exchanges also fall Friday afternoon.
British FTSE 100 is down 2.15 percent, while the German DAX and French CAC 40 are down respectively. 2.63 and 2.16 percent.
It is oil that sets the mood across the board internationally.
The mood among investors is in addition easier nervous front 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 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 in the short is that the central bank raises, he said.
Crude continues down
The fall in oil prices has only increased through the day Friday.
Brent January oil falls by close of trading with 2.92 percent in today’s trading, to 38 , $ 57 a barrel.
WTI oil is down 2.31 percent to $ 35.91.
Oil prices have fallen steeply since 10:00 o’clock, after the International Energy Agency (IEA) was out with a new monthly report.
Der wrote 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 Q4 this year.
Read also: The oil price has not been lower since 2008
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 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 persistent increase in production outside OPEC, writes agency.
Statoil, Seadrill and DNO saw red
The impact among the most traded shares were rather large due to the fall in oil prices.
Statoil fell 2.02 percent to 121.00 kroner. The company announced a series of transactions with Repsol this morning. Statoil sells, among other things into the Gudrun field here at home, but buying into shale oil field Eagle Ford in the United States.
Seadrill continued downturn, falling entire 8.73 percent to 35.46 kroner . At its worst day was John Fredriksen’s shares fell to a new all-time low at 34.93 million.
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.”
Fredriksen shares Archer and Golden Ocean was also sharply down today, falling respectively. 4.63 percent to 5.15 million and 6.88 percent to 10.15 kroner. The latter ended his day in all-time low, while Archer was passing trough at 4.85 kroner intraday.
Many stocks fell today, and several fell much. Yara was down 3.77 percent and Subsea 7 fell 3.32 percent, while the Salmar, TGS and PGS all were down by around three percent.
DNO fell today 7.00 percent to 6.78 kroner after Bank of America downgraded its recommendation on the stock from buy to neutral.
NEL and Norwegian countercurrent
NEL, with Øystein Stray Spetalen ownership, was up 3.90 percent to 4.00 kroner. The Board has appointed former REC Top Jon Andre Løkke as new CEO with effect from January.
We take otherwise that Norwegian was up 0.40 percent to 300.50 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 continued 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 fall ended at 55 per cent to 1.35 million.
At the other end we find Polarcus very top, with a rise of 29.37 percent to 1.63 million.
Serodus came closest to plus 24.50 percent to 2.49 million.
Sensible Orkla acquisitions
Orkla announced in a stock exchange announcement on Friday that the company signed an agreement to acquire Hame, a leading brand company in the food sector in the Czech Republic and Slovakia.
Analysts who follow Orkla believes the acquisition appears to be sensible and accretive for Orkla multiples, type TDN Finans.
– The purchase is slightly below the P / E of 20, so there is dilution in relation to Orkla’s own multiple, says Nordea Markets analyst Kolbjørn Giskeødegård to the news service.
The stock fell nonetheless 0.72 percent to 69.40 kroner today.
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